Time Warner's Parsons Responds To Carl Icahn

After weeks of avoiding a public confrontation with corporate raider Carl Icahn, Time Warner Chairman Dick Parsons on Tuesday responded indignantly to Icahn's charges that the Time Warner board and Parsons in particular had failed to be aggressive enough in lifting the company's depressed stock price. Meeting reporters in advance of a Town Hall address in Los Angeles, Parsons said: "Carl and I agree that the stock is undervalued." However, he continued, "I don't think he has any great ideas, and I'm not even sure he thinks he does" for boosting the stock price. Later, in his address to the group, Parsons said that he has no intention of following Viacom Chairman Sumner Redstone's lead in splitting up the company in the hopes that investors would regard the individual parts more highly than the whole. He predicted that Redstone and others "who tried to disaggregate [will] be nimble and efficient re-aggregating." On the other hand, Parsons appeared to side with Disney chief Robert Iger on the issue of closing the window between the time a film is released in theaters and the time it is released on DVD. "Windows are inevitably going to collapse over time," Parsons told reporters. "But managing that transition in a way that is respectful of our distribution partners is the challenge." Meanwhile Robert Clark, the former dean of Harvard Law School, said Tuesday that he has resigned as a director of Lazard, the company that Icahn has hired to advise him in his battle with Time Warner. Clark is also a member of the Time Warner board and his presence on both boards had posed a conflict of interest.




12/07/2005


Contactmusic

Tags:


Advertisement

Editors Recommendations

Ok, So It's Official: 'Guardians of the Galaxy' Is Best Marvel Movie, Ever

Guardians of the Galaxy is still three weeks ago from hitting cinemas...

Ok, So It's Official: 'Guardians of the Galaxy' Is Best Marvel Movie, Ever

Toronto Film Festival Unveils Line-Up

David Cronenberg's new film Maps to the Stars which stunned critics at Cannes and features...

Toronto Film Festival Unveils Line-Up

Lucy - Luc Besson Featurette

The cast and crew of 'Lucy' - actors Scarlett Johansson, Morgan Freeman and Amr Waked, and producer...

Lucy Trailer

Comic-Con 2014 For TV Nerds: Five Unmissable Panels

It’s that time again! Time for Comic-Con to make life a little bit weirder – and better..

Comic-Con 2014 For TV Nerds: Five Unmissable Panels

Everything We Know So Far About ‘Downton Abbey’ Season 5

Everyone’s favourite period drama of manners, ‘Downton Abbey’ is heading back...

Everything We Know So Far About ‘Downton Abbey’ Season 5
Advertisement

Sam Smith Beaten By Lana Del Rey To Billboard No.1

Besides a promising musician, Sam Smith’s debut record has also shown him to...

Sam Smith Beaten By Lana Del Rey To Billboard No.1

What's Happening With 'Iron Man 4'? Robert Downey Jr. Too Pricey? Colin Farrell To Step In?

If you can be sure of one thing, it’s that Marvel will keep putting out...

What's Happening With 'Iron Man 4'? Robert Downey Jr. Too Pricey? Colin Farrell To Step In?

Latitude Gratitude: Damon Albarn is Thankful of "Brave" Festival

Damon Albarn isn’t exactly a stranger to playing in front of huge crowds at...

Latitude Gratitude: Damon Albarn is Thankful of


More recommendations

Advertisement

Comments

Newsletter

Subscribe to this news alert service to receive news and reviews on

Unsubscribe | Unsubscribe All