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Parsons adds fuel to Time Warner reports

May 17, 2008 at 4:55 PM   |   Comments

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ATLANTA, May 17 (UPI) -- Time Warner could soon have a new chairman as current Chairman Richard Parsons indicated at the company's annual meeting in Atlanta he is about to leave.

Appearing at the annual Time Warner shareholder meeting in Atlanta's CNN Center, Parsons all but confirmed he would soon leave his position as head of the media conglomerate, The Hollywood Reporter said.

"This is my last shot at this," Parsons said at Friday's gathering in Atlanta.

"I'll be the outgoing chairman after this."

Yet Parsons did add the word "probably" to his comments, leaving room for him to maintain his position with Time Warner.

If Parsons does step down in the coming months, the favorite for his position is Time Warner Chief Executive Officer Jeffrey Bewkes, the Reporter said.

The newspaper said at Friday's meeting in Atlanta, a request by Time Warner shareholders to divide Bewkes' current position from that of chairman was rejected by company officials.

© 2008 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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