Report: Time Warner CEO Parsons To Exit, Bewkes Successor

Parsons Reportedly Exiting

British newspapers are reporting that TIME WARNER CEO RICHARD PARSONS will soon announce his resignation, and that he will be succeeded by long-time number-two man on the TW totem pole, JEFF BEWKES. The official word of his departure, after a little over five years at the helm, could come as soon as next week.

Although PARSONS’ contract formally expires in May, 2008, sources speculated to the LONDON TIMES that PARSONs may stay on after the announcement while BEWKES settles in. Once that happens, however, a review of strategy is expected. BEWKES, who holds no sentimental times to the conglomerate, could be far more willing to divest the company of AOL or its cable system.

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