Parsons May Break Up Time Warner, After All
Two years after winning his battle with corporate raider Carl Icahn, who had called for the break-up of Time Warner into four separate companies -- cable, Internet, publishing and movies/TV -- Time Warner Chairman and CEO Richard Parsons said Tuesday that he may now be looking favorably on such a break-up himself. Speaking to a Goldman-Sachs investors' conference in New York, Parsons said that Icahn's argument "may have more resonance now, and we are evaluating that argument again. One reason we haven't jumped onto it is we're just now in a zone where we can take a serious look at it." Parsons also announced Tuesday that he was in the process of "passing the baton" to Time Warner president and COO Jeff Bewkes. Parsons' contract runs out on May 31.