Jeff Bewkes Named Time Warner Chairman

NEW YORK (AP) -- Time Warner Inc. says Chief Executive Jeffrey Bewkes is replacing Richard Parsons as chairman of the board.

Parsons will step down Dec. 31 and Bewkes will take his place the next day. The move was widely expected.

Bewkes took over from Parsons as chief executive in January and has since moved to consolidate movie studio New Line Cinema and close Picturehouse and Warner Independent Pictures.

He said last month that the Time Inc. publishing unit would cut 6 percent of its work force, more than 600 positions, to save $150 million annually.

The media conglomerate is also in the process of spinning off Time Warner Cable Inc., the nation's second largest cable operator, as it focuses on becoming more of a pure-content media company.

Comments

[larry278]

Who gets to be the one who takes Time-Warner into bankruptcy? How about Mark Halperin of "The Page" & Land of Lincolner fame? Is there poetic justice?

[satyriasis]

Another vision less, bureaucratic, bean counting, Machiavellian Time Warner CEO. How many times has this narrative repeated itself?

[Opt1musPr1me]

More headaches for poor Jeff Bewkes. Now he doesn't have Dick Parsons to fall back on. Good Luck Jeffrey, your media company is still too big to survive in this current climate. get to chopping.

[abby4ever]

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