BUSINESS
03/28/2008 02:45 am ET | Updated May 25, 2011

Richard Parsons To Call It Quits At Time Warner

Richard Parsons, the chief executive of Time Warner, is poised to announce that he will handover the top job at the CNN to Harry Potter conglomerate to longstanding number two Jeff Bewkes.

The announcement of the end of the African-American's five and a half year tenure could come as soon as next week, after the matter was discussed at a board meeting in London on Wednesday and Thursday of this week.

Technically, no final decision was taken by the board -- otherwise Time Warner would have had to make an immediate disclosure -- but it is an open secret at the New York based group that the handover is "coming soon". Some now believe that it is imminent, and well before a previously disclosed backstop date at end of the year.

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