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By Newsday | November 1, 1994
NEW YORK -- Richard Parsons, who began his career as a protege of New York Gov. Nelson Rockefeller and went on to triumphs in the worlds of law and banking, was named president of Time Warner Inc. yesterday.Mr. Parsons will leave his current position as chairman of Dime Savings Bank, which is in the process of merging with Anchor Bank.The Brooklyn-born Mr. Parsons now becomes a potential contender for the top spot at the world's largest media and entertainment company.He also becomes the most highly placed African-American in corporate America.
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NEWS
By Daniel Lyons | June 10, 2014
The cable company is one entity everyone likes to hate. Perhaps this knee-jerk animosity is to blame for the rush to condemn Comcast's proposed $44 billion merger with Time Warner Cable. Critics complain that combining the nation's two largest cable companies would create a "behemoth" with 30 million customers, nearly one-third the cable/satellite market. But calling this a "cable deal" misunderstands the dynamic nature of the modern video marketplace. America is in the midst of an entertainment revolution, giving consumers more choices than ever.
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SPORTS
By MILTON KENT | September 15, 1995
So far, the sound is silence from Time Warner officials, as they figure out what to do about Don King's Nov. 4 gambit, taking Mike Tyson's fight with Buster Mathis Jr. to Fox, rather than pay-per-view.All that emerged from TW headquarters yesterday was a terse, one-sentence statement from Seth Greenberg, chairman and CEO of the corporation's sports division, saying that the company "would respond at the appropriate time."King and Greenberg have tussled for weeks about the Nov. 4 date, which Time Warner, through its TVKO pay-per-view wing, has planned for a Riddick Bowe-Evander Holyfield heavyweight bout.
NEWS
By Robert B. Reich | April 23, 2014
We're in a new Gilded Age of wealth and power similar to the first Gilded Age, when the nation's antitrust laws were enacted. Those laws should prevent or bust up concentrations of economic power that not only harm consumers but also undermine our democracy -- such as Comcast's pending acquisition of Time Warner Cable. In 1890, when Republican Sen. John Sherman of Ohio urged his congressional colleagues to act against the centralized industrial powers that threatened America, he didn't distinguish between economic and political power because they were one and the same.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer | July 21, 1994
Time Warner Inc. will build the Baltimore area's biggest privately funded commercial development in five years, a 392,000-square-foot warehouse in White Marsh that will generate 400 jobs initially.The deal, pending for weeks, was unveiled by Nottingham Properties Inc. of Towson yesterday.A Nottingham affiliate sold Time Warner the land for the warehouse, which will supply Warner Bros. Worldwide retail stores in the eastern half of the United States. The value of the land was not disclosed, but the head of the construction company expected to build the project said the building will cost about $16 million.
BUSINESS
By Bloomberg Business News | March 15, 1994
NEW YORK -- Tele-Communications Inc. Chief Executive John C. Malone has held discussions with Time Warner Inc. executives about joining an international cable music program to compete with Viacom Inc.'s MTV channel, executives close to the discussions said yesterday.The discussions could threaten an agreement in principle that TCI reached in September with Germany's Bertelsmann A. G. to launch their own channel competitive with MTV.Time Warner's Warner Music Group, Sony Corp.'s Sony Music, Thorn EMI PLC's EMI Music unit and PolyGram, majority-owned by Philips Electronics, revealed in January that they were setting up their own international music channel.
NEWS
By Michael Dresser and Michael Dresser,Sun Staff Writer | August 31, 1995
In the entertainment industry these days, nobody wants to be small -- and nobody wants to depend on anybody else for anything.Yesterday, Time Warner Inc. confirmed that it was negotiating to buy Turner Broadcasting System in a deal valued at $8.5 billion. This comes just 30 days after the Walt Disney Co. announced it planned to acquire ABC for $19 billion and just 29 days after Westinghouse's Group W weighed in with a $5.4 billion offer for CBS.Each of these recent media mega-mergers has its own internal logic, but through them runs a common theme.
BUSINESS
By New York Times News Service | January 21, 1994
After months of acting nonchalant about the growing stake being acquired by Seagram Co., the board of Time Warner Inc. adopted defensive measures yesterday intended to prevent Seagram from buying more than 15 percent of Time Warner's stock.Seagram, a Montreal-based spirits company, has been building a stake since May in Time Warner, a New York-based media and entertainment company.On Wednesday, Seagram said it had increased its holdings to 11.7 percent from 10.4 percent. Seagram has said that it intends to buy as much as 15 percent of the company as an investment.
BUSINESS
By Bloomberg Business News | September 16, 1995
NEW YORK -- Turner Broadcasting System Inc. and Time Warner Inc.'s boards are expected to meet early next week to seal Time Warner's planned $8 billion acquisition of Turner, according to two executives involved in the negotiations.Turner, Time Warner and Tele-Communications Inc. -- which controls 21 percent of Turner stock and has de facto veto power over the buyout -- are slated to continue talks this weekend, the executives said.The boards are likely to convene in New York Tuesday or Wednesday to agree on the terms of forming the world's largest media and entertainment company, the executives said.
BUSINESS
By Victor F. Zonana and Leslie Helm and Victor F. Zonana and Leslie Helm,Los Angeles Times | October 30, 1991
NEW YORK -- Time Warner Inc. -- moving to lighten its enormous debt load and improve its access to overseas markets -- agreed yesterday to sell a 12.5 percent stake in its historic Warner Bros. studio and its cable television operations, including HBO, to two Japanese companies for $1 billion.The agreement with electronics-maker Toshiba Corp. and trading giant C. Itoh & Co. Ltd. is a big step toward fulfilling Time Warner Chairman Steven J. Ross' vision of a global, vertically integrated, entertainment industry powerhouse, analysts said.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | February 2, 2011
Hunt Valley-based Sinclair Broadcast Group Inc. said Wednesday it has settled a contract dispute with Time Warner Cable Inc., reaching a multiyear agreement that allows the cable provider to carry signals for 28 Sinclair television stations. That means Time Warner customers in 17 markets from Portland, Maine, to Pensacola, Fla., will have access to network TV stations such as Fox, NBC, CBS and ABC affiliates that might otherwise have gone dark. Time Warner, the second-largest cable operator in the United States, serves customers in 28 states, mainly in New York, the Carolinas, Ohio, Texas and Southern California.
BUSINESS
By Gus G. Sentementes and Gus G. Sentementes,gus.sentementes@baltsun.com | January 14, 2010
Fewer than 50 workers are expected to be laid off this week from Advertising.com, a major Baltimore-based subsidiary of AOL Inc., as part of a change in strategy for the Internet giant, according to company officials. AOL spun off from Time Warner Inc. last month and is trying to transform itself primarily into a producer of online advertising and editorial content. AOL bought Time Warner, based in New York City, in 2001 in an acquisition that is now widely regarded as one of the worst business deals in history.
NEWS
November 21, 2009
Workers at Advertising.com in Baltimore will be eligible to participate in a voluntary buyout program that its parent company, AOL LLC, is planning next month as part of a larger effort to cut one-third of its work force, or 2,500 positions. Advertising.com, which is AOL's online advertising network, employs about 400 people at the Tide Point office complex in South Baltimore. Time Warner Inc. is spinning off AOL, a one-time Internet giant, on Dec. 9, and the company will be accepting volunteers to leave between Dec. 4 and 11. AOL, which is based in New York City, has said that if it does not get enough volunteers, it will resort to involuntary layoffs.
BUSINESS
May 29, 2009
Time Warner to spin off AOL, ending ill-fated deal WASHINGTON -: Media giant Time Warner announced Thursday what it had said it intended to do more than a year ago: Unload its struggling AOL advertising-and-dial-up unit, which will face life as a standalone, publicly traded company. The move officially ends the nine-year saga of Dulles, Va.-based AOL and New York's Time Warner, which began when AOL co-founder Steve Case engineered what was hailed at the time as the first of what would be several mega-marriages between old and new media.
BUSINESS
By Mike Musgrove and Mike Musgrove,The Washington Post | April 30, 2009
WASHINGTON - Time Warner Inc. announced Wednesday in a filing with the Securities and Exchange Commission that it intends to spin off its ailing AOL division. "Although the Company's Board of Directors has not made any decision," the company wrote in its latest quarterly report to investors, "the Company currently anticipates that it would initiate a process to spin off one or more parts of the businesses of AOL to Time Warner's stockholders, in one or a series of transactions." Time Warner's net income dropped 14 percent over the same period a year ago, mainly because of dropping revenues at AOL but also because of a suffering publishing business.
BUSINESS
February 5, 2009
Service sector shrinks for 4th straight month WASHINGTON: The nation's service sector shrank for the fourth straight month in January, a trade group said yesterday, but at a slower pace than in the previous month. The Institute for Supply Management, a trade association of purchasing executives, said its service sector index rose to 42.9 last month, from December's downwardly revised reading of 40.1. The January reading was above analysts' expectations of 39, according to a survey by Thomson Reuters.
BUSINESS
By SCOTT LEITH AND MARIA SAPORTA and SCOTT LEITH AND MARIA SAPORTA,THE ATLANTA JOURNAL- CONSTITUTION | May 20, 2006
ATLANTA -- Ted Turner's slow slide from power at Time Warner came to a formal close yesterday as his final term as a board member ended and he was sent off with a standing ovation at the company's annual meeting. Turner, plain-spoken as always, took the stage to bid farewell. Though he chose not to stand for re-election, he has long lamented his loss of influence at Time Warner. And so the severing of his official ties came with a hint of bitterness. "I've been with the company and its successors for 55 years," Turner told shareholders.
BUSINESS
By From Sun news services | January 22, 2009
NEW YORK - Citigroup Inc. said yesterday that board member Richard Parsons - the former CEO of Time Warner - will soon be taking over as chairman. The appointment is effective Feb. 23, Citigroup said in a statement. Parsons succeeds Win Bischoff, who became chairman in December 2007. Bischoff is not putting himself up for re-election at the board's annual meeting this spring and will retire later this year, Citigroup says. The embattled bank has suffered five consecutive quarters of losses and received $45 billion in government aid as it struggles to stay afloat amid the credit crisis.
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