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BUSINESS
May 21, 2005 | From Bloomberg News
Time Warner Inc., having pared its debt by $11 billion in three years, plans to start paying the company's first dividend since its acquisition by America Online four years ago. The 5-cent quarterly payouts will start in September and are "the beginning of a commitment we hope will grow over time," Time Warner Chief Executive Richard Parsons said Friday at the company's annual meeting in New York. Based on Time Warner's 4.
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BUSINESS
November 21, 1997 | Bloomberg News
Time Warner Inc. said it will buy back as many as 20 million shares, adding to its program to offset the shares issued for the exercising of stock options. The company said in April it would buy back 15 million shares; about 14 million have been bought at an average price of $42 each. The company had about 573 million shares outstanding at the end of the third quarter. Time Warner is expected to launch a larger buyback if its recovery continues into 1988, analysts said.
ENTERTAINMENT
July 22, 2013 | By Joe Flint
Time Warner has tapped Howard Averill to be its chief financial officer after John Martin transitions from that role to chief executive of Turner Broadcasting next year. Averill is chief financial officer of Time Inc., the publishing unit that houses Time, Sports Illustrated and several other magazines that Time Warner is spinning off into a stand-alone public company later this year. Time Warner also said Joseph Ripp, a former chief financial officer of Time Inc., is returning to be its chief executive.
BUSINESS
April 26, 1995 | From Times Wire Services
Time Warner Inc. has taken a 10% stake in Interactive Digital Solutions, a joint venture between Silicon Graphics Inc. and AT&T Network Systems that provides multimedia software, the companies said Tuesday. Under the agreement, Time Warner's entertainment subsidiary will contribute rights to the software used in its Orlando, Fla.
BUSINESS
April 18, 1992 | From Associated Press
The media-entertainment giant Time Warner Inc. said Friday that it plans to arrange a private placement of $1 billion in long-term debt with institutional investors. The company said it planned to use proceeds from the placement for reducing its commercial bank debt and said the move would strengthen its balance sheet. Its bank debt accounts for most of its $8.7 billion in long-term debt.
BUSINESS
July 1, 2004 | James Bates and Claudia Eller, Times Staff Writers
Time Warner Inc. has come up with a preliminary bid for Metro-Goldwyn-Mayer Inc., though it has yet to finalize either the price or other key details, people familiar with the negotiations between the two said late Wednesday. MGM sources have in the past said that they believe buyers would pay $5 billion for the legendary Los Angeles studio. But Time Warner executives, including Chairman Richard Parsons, have privately made it clear that they think that would be a very rich price.
BUSINESS
December 22, 2005 | Meg James, Times Staff Writer
Jeff Bewkes, who oversees Time Warner Inc.'s vast entertainment empire, was named president and chief operating officer Wednesday, firmly establishing him as next in line to run the world's largest media company. Bewkes, 53, had been considered by Wall Street to be the front-runner to succeed Chief Executive Richard Parsons even while sharing chief operating duties with Don Logan, the 61-year-old head of the company's cable, publishing and Internet divisions.
CALIFORNIA | LOCAL
July 8, 1998 | TOM SCHULTZ
The City Council has decided to sell off surplus city vehicles, place a soda vending machine in a local park and extend its contract with cable television provider Time Warner for three months. The council met in private sessions recently to negotiate a new agreement with Time Warner, but a number of points--including how long the cable provider's new contract should last--have caused delays, said Councilwoman Joanne Baltierrez.
BUSINESS
May 4, 1995 | SALLIE HOFMEISTER
While Time Warner Inc.'s individual businesses are profitable and reported record post-merger profits in the latest quarter, the company has racked up losses in the last three years because of the high cost of servicing its $15-billion debt. To reduce that expense, the company is trying to shed some assets, such as its stake in Turner Broadcasting. Wall Street is dubious about investments in cable at a time of regulatory uncertainty and a possible challenge from telephone companies.
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