Free Republic

Steve Case resigns from board to devote more time to his new company, Revolution. NEW YORK (Reuters) - Steve Case, the founder of AOL, Monday said he has resigned from the board of Time Warner Inc. ending a painful chapter in the history of the world's largest media company. Case was one of the original architects of the merger of AOL and Time Warner (Research), which helped erase more than $200 billion in shareholder value from the stock. "On behalf of Time Warner's Board of Directors and senior management team, I thank Steve Case for his years of distinguished service...

Dick Parsons is on the way out -- officially. Time Warner (TWX) , the world's largest media conglomerate, on Monday confirmed widespread speculation that Jeff Bewkes will take the reins from Parsons as CEO. The move is effective at the end of the year. Parsons will remain chairman of the company. The ascension of Bewkes, Time Warner's president and chief operating officer, to CEO has long been expected, but the timing was unclear. In recent weeks, speculation has heated up that the change would be in the near future. "Today's decision is the culmination of a thoughtful and disciplined process...

While Ted Turner was in college, his father wrote him a letter that concluded: "I think you are rapidly becoming a jackass." Anyone who has watched the eccentric billionaire over the years might be inclined to admire Dad's prescience.... Far from self-made, Mr. Turner inherited a large billboard business when his father, with whom he had a troubled relationship, committed suicide.... He had been less lucky in 1985 when, without consulting his board, he bought MGM for $1.5 billion. He overpaid and was drowning in debt. Three months later he sold the studio back at a discount. More damaging, he...

Parsons Takes Shot at FoxBy John Eggerton -- Broadcasting & Cable, 8/6/2004 2:22:00 PM Time Warner Inc. chairman Dick Parsons Friday described Fox News Channel as "crazy people exchanging views," telling a group of minority journalists in Washington he felt that the channel and his own Cable News Network are two different services. When asked by Univision Anchor Jorge Ramos why CNN was losing the ratings battle with Fox, he was not ready to concede that. He said that Fox was more like talk radio on TV, which meant that its viewers stayed longer because people tended to "come and...

Time Warner Inc. chairman Dick Parsons Friday described Fox News Channel as "crazy people exchanging views," telling a group of minority journalists in Washington he felt that the channel and his own Cable News Network are two different services. http://www.broadcastingcable.com/CA443471.html

Mr. Dick Parsons has referred to FOX News as crazy people exchanging views. Let's Freep his company with some e-mails to investor relations. Send Freep-mail to www.ir@timewarner.com

By John Eggerton -- Broadcasting & Cable, 8/6/2004 2:22:00 PM Time Warner Inc. chairman Dick Parsons Friday described Fox News Channel as "crazy people exchanging views," telling a group of minority journalists in Washington he felt that the channel and his own Cable News Network are two different services. When asked by Univision Anchor Jorge Ramos why CNN was losing the ratings battle with Fox, he was not ready to concede that. He said that Fox was more like talk radio on TV, which meant that its viewers stayed longer because people tended to "come and sit down for an...

Time Warner Inc. chairman Dick Parsons Friday described Fox News Channel as "crazy people exchanging views," telling a group of minority journalists in Washington he felt that the channel and his own Cable News Network are two different services. When asked by Univision Anchor Jorge Ramos why CNN was losing the ratings battle with Fox, he was not ready to concede that. He said that Fox was more like talk radio on TV, which meant that its viewers stayed longer because people tended to "come and sit down for an hour or two and listen to crazy people exchange views."...

LANSDOWNE, Va - Fed-up shareholders of AOL Time Warner gave Steve Case and his cronies a big thumbs-down yesterday - withholding votes to reelect them to the board at the company's annual meeting here yesterday. While Case and the entire slate of directors were reelected, investors voiced their anger by giving Case's pal, former America Online exec Miles Gilburne, the lowest vote tally - just 65%. Case got 78% of the votes, far less than AOL Time Warner CEO Dick Parsons, who received a near-unanimous backing from shareholders. It was a clear sign that investors place much of the blame...