Shares of Time Warner Inc. (NYSE: TWX) are launching up over 2.5% mid-day on a report out of the Times Of London that Chairman & CEO Richard Parsons is set to announce his exit from the company.
"In the most dramatic shift of power for more than five years, Jeff Bewkes is poised to head one of the world's largest media groups ..."
This names Jeff Bewkes as successor, and if this is true will end up being the end of what many have already suspected. Parsons earlier this year even hinted at it himself.
You will want to watch Time Warner Cable (NYSE: TWC) on this as well. As we were sending this, CNBC just noted this as well.
Parsons leaving? Time Warner (TWX) shares launching on possible regime change
Posted Oct 26th 2007 12:48PM by Jon Ogg
Filed under: Time Warner (TWX), Time Warner Cable (TWC)
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Reader Comments (Page 1 of 1)
10-27-2007 @ 11:43AM
BamBam said...
This could be good news for Citigroup shareholders too, if Parsons steps down from their board.
10-28-2007 @ 6:50PM
George A. Petersen said...
George Yared, how perfectly right you are! Jimmy Carter has to be mentioned in the Guiness book of records as worst president of moderm time. Because of him we are right now fighting a war that he help to start because he stop our backing to the Shah of Iran. From that point everything started and he was the culprit. I agree Mr. Carter should once and for all to stop talking nonsenses and go back to build houses.
GAP
10-28-2007 @ 6:50PM
George A. Petersen said...
George Yared, how perfectly right you are! Jimmy Carter has to be mentioned in the Guiness book of records as worst president of moderm time. Because of him we are right now fighting a war that he help to start because he stop our backing to the Shah of Iran. From that point everything started and he was the culprit. I agree Mr. Carter should once and for all to stop talking nonsenses and go back to build houses.
GAP