Time Warner chief calls '04 'very good'

NEW YORK, Dec. 7 (UPI) -- Time Warner chairman and Chief Executive Officer Richard Parsons said 2004 was "a very good year" for the company, The Hollywood Reporter said Tuesday.

Parsons -- speaking at the 32nd annual UBS Media Week conference -- told his audience management at Time Warner has finally "turned the company around," after years of decline.

Parsons said the world's largest media company will meet all its growth targets for 2004, but the company had no guidance yet for 2005.

Parsons was asked whether the company's operating income before depreciation and amortization could reach double-digit growth next year, but he would only say he feels "very good" about 2005.