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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 originally appeared on BloggingStocks on Fri, 26 Oct 2007 12:48:00 EST. Please see our terms for use of feeds.

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