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PEOPLE

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Richard D. Parsons, CEO
Chairman of Time Warner, Inc.

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Richard Parsons
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Richard D. Parsons, Chairman and Chief Executive Officer of Time Warner Inc. Is selected as MIPCOM's Personality of the Years and TVI Magazine, Person of the Week 402006 - - OCTOBER 2006

••• Richard D. Parsons is Chairman of the Board and Chief Executive Officer of Time Warner Inc., whose businesses include filmed entertainment, interactive services, television networks, cable systems and publishing. He became CEO in May 2002 and Chairman of the Board in May 2003.
••• Since becoming CEO, Mr. Parsons has led Time Warner's turnaround and set the company on a solid path toward achieving sustainable growth.
••• In the process, he has put in place the industry's most experienced and successful management team, strengthened the company's balance sheet and simplified its corporate structure, and carried out a disciplined approach to realigning the company's portfolio of assets to improve returns.
••• In its January 2005 report on America's Best CEOs, Institutional Investor magazine named Mr. Parsons the top CEO in the entertainment industry. - CONTINUED

 

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1. Feature Story / (continued) - RICHARD D. PARSONS NAMED MIPCOM PERSONALITY OF THE YEAR 2006, and as Television International Magazine, Person of the Week 402006, for the month of OCTOBER 2006
••• TVI Magazine, like Cannes, France's Reed MIPCOM, selected Richard D. Parsons, Chairman and Chief Executive Officer of Time Warner Inc., as its Person of the Week NBS achievement winner, because of his leadership and accomplisments he earned in the global TeleCom industry.
••• Mr. Parsons will receive the accolade on Wednesday 11 October during a gala dinner for leading industry executives, part of the 22nd annual MIPCOM event (9 to 13 October, Palais des Festivals, Cannes). SEE MORE STORY MIPCOM 2006. / MORE ABOUT TIMEWARNER AND RICHARD PARSONS

••• Richard Parsons (born April 4, 1948), is the chairman and CEO of Time Warner.
••• A native of Brooklyn, New York, Mr. Parsons earned a law degree from Albany Law School, and earned the honor of outscoring all other test takers of the 1971 New York State bar exam.
••• Parsons is also a graduate from the University of Hawaii, where he played varsity basketball. Parsons served as a lawyer for New York governor Nelson Rockefeller and followed Rockefeller to Washington when he became vice president in 1974.
••• In 1977 Parsons returned to New York and joined Wall Street law firm Patterson, Belknap. He left the firm to become president of Dime Savings Bank. He became the bank's CEO, seeing it through a merger with Anchor Savings Bank.
••• In 1995 he became president of Time Warner, helping negotiate its merger with America Online, which created a $165-billion media empire in 2000. In December 2001, AOL Time Warner CEO Gerald Levin declared that Parsons would succeed him as CEO.
••• Also in 2001, President Bush selected Parsons to cochair a commission on Social Security. In addition, Parsons worked on the transition team for Michael Bloomberg, who was elected mayor of New York City in 2001.

02. TIMELINE /
1948 - Richard Parsons (born April 4, 1948), is the chairman and CEO of Time Warner. A native of Brooklyn, New York.
1974 - Richard Parsons served as a lawyer for New York governor Nelson Rockefeller and followed Rockefeller to Washington when he became vice president in 1974.
1974 - Front Cover of Warner Bros - Reprise Records Circular Magazine, December 8, 1975. Authored by: Harvey Geller, of Bill Board Magazine. Title of Story, "The Man History Overheard" - "Stubblefield and His "Raidio." MORE WB NBS STORY FRONT COVER
1977 - In 1977, Parsons returned to New York and became a partner at the Patterson, Belknap firm. He left the firm to become head of Dime Savings Bank. He became the bank's CEO, seeing it through a merger with Anchor Savings Bank and pocketed a substamtial amount for the management and shareholdersof depositors' value in the de-mutualization craze of the 1980s-1990s when he demutualized the Dime.
1987 - China Connection. The Tiffany Woo - TCS - TVI Lorimar = Soloman connection - to Shanghai STV. MORE STORY ABOUT WARNER BROS / VRA IN CHINA - 1987
1988 - Warner Bros. - First Movie Studio into China. Page 14 Trivals Facts: Warner Bros. Soloman Front Cover of Warner Bros - Reprise Records Circular MORE STORY ABOUT WARNER BROS IN CHINA WITH TVI MAGAZINE - 1988
1995 - In 1995 he became president of Time Warner, helping negotiate its merger with America Online, which created a $165-billion media empire in 2000.
1996 - Ted Turner became Vice Chairman of Time Warner in October 1996, with the merger of Time Warner Inc. and Turner Broadcasting System, Inc. Mr. Turner oversaw Time Warner's Cable Networks division, which included the assets of Turner Broadcasting System, Inc. (TBS, Inc.), the CNN Newsgroup, as well as Home Box Office, Cinemax, and the company's interests in Comedy Central and Court TV. He also oversaw New Line Cinema and the company's professional sports teams-the Atlanta Braves, Atlanta Hawks and Atlanta Thrashers.
2001 - In December 2001, AOL Time Warner CEO Gerald Levin announced plans to retire in May 2002 and declared that Parsons would succeed him. The move surprised many media watchers who assumed that COO Robert Pittman would take the helm. Parsons is also a Director of Citigroup.
2001 - In 2001, President Bush selected Parsons to cochair a commission on Social Security. Parsons also worked on the transition team for Michael Bloomberg when he was elected mayor of New York City in 2001.
2002 - May 2002, Parsons becomes Time Warner chief operating officer.

2001 - In January 2001, Ted Turner became Vice Chairman of AOL Time Warner, a position from which he served until May 2003.
2000 - AOL, Steve Case, Time Warner - Case, the former chief executive of AOL, was the driving force behind its ill-fated acquisition of Time Warner in 2000. So his call for a do-over, saying the merger was holding back the pieces of the empire he forged, came as a bit of a surprise.
2000 - Case had the right idea. As millions of homes sign up for high-speed Internet service, the Net is emerging as an important pipeline for entertainment. But like many online entrepreneurs, he got the timing wrong. Wiring the nation for broadband is taking longer than they thought, and entertainment companies have been slow to embrace the Net. Beyond that, it's no mean feat to meld disparate corporate cultures into a giant entertainment and electronics conglomerate for the sake of digital "convergence" -- as Vivendi Universal and Sony have also learned.
2000 - Case joined other restless Time Warner investors, such as billionaire Carl Icahn, in urging the company to break itself up. The company should ignore him.
2000 - As the Pew Internet & American Life Project pointed out earlier this year, "The Web has become the 'new normal' in the American way of life." Time Warner needs to figure out how to profit from this change. Owning AOL helps the company work out new business models for the broadband era.
2005 - TIME WARNER boss Richard Parsons has said that AOL is not for sale and Microsoft should keep its Volish paws off his crown jewels.
2005 - GLOBAL FORUM, BEIJING. Richard Parsons, CEO of Time Warner Inc, speaks at the FORTUNE Global Forum in Beijing May 17, 2005. Parsons said Time Warner is talking with China's top two broadcasters about partnerships in the country's newly opened TV program-making sector. CLICK FOR MORE CHINA PARASONS - TIMELINE STORY.
2005 - Global Forum in Beijing - Time Warner in talks for China TV tie-ups - Media conglomerate Time Warner Inc. is talking with China's top two broadcasters about partnerships in the country's newly opened TV program-making sector, according to its chief executive. CLICK FOR CHINA 2005 Hu Jintao u TVInews TIMELINE
2005 - Officials from Time Warner, owner of the CNN and HBO television networks and the Warner Bros. movie studio, have met recently with counterparts from China Central Television (CCTV) and Shanghai Media Group (SMG) about ways they can work together, said Chief Executive Officer Richard Parsons.
2005 - "We have an awful lot of both content and expertise we think can be helpful to developing the TV industry here in China," Parsons told reporters at a media briefing at a business conference in Beijing.
2005 - "In terms of target dates, we're really at the beginning of trying to create these relationships and I would hope that by next year we would have some success."
2005 - Time Warner and many of its peers, including Sony Corp and Viacom Inc., have announced a string of TV- and movie-making ventures in recent months, following the opening of the industry to foreign investment late last year.
2005 - But whereas the others, including a News Corp. venture still in negotiations, are focused on TV programs, Time Warner's venture announced last year was focused on movie making, also a largely undeveloped sector in China.
2005 - In one of its few recent TV initiatives in China, the company's HBO unit formed a partnership last year to provide movies to CCTV.
2005 - Many believe that China has the potential to become one of the world's biggest media markets, with ad spending rising 25 percent last year to reach 194 billion yuan ($23.43 billion), according to CTR Market Research.
2005 - Parsons said Time Warner saw big potential in the Chinese market, but he acknowledged that any meaningful contributions to the company's sales were still at least five years off. He said that China and Hong Kong combined now contributed just half of 1 percent of Time Warner's total revenue.
2006 - "We're talking longer term in China," he said. "We're here now strengthening our relationships, getting our feet wet with local partners. ... We think over time it will pay huge dividends for our company, but that's a five- to 10-year timeframe."
2006 - Warner Makes Deal With YouTube / The record label grants the website's amateur filmmakers free use of its music in videos. / By Dawn C. Chmielewski and Charles Duhigg, Times Staff Writer / September 19, 2006
2006 - Lip-syncing lawbreakers got a measure of amnesty when Warner Music became the first major record label to let YouTube's legions of amateur filmmakers use its songs &emdash; free and legal &emdash; as soundtracks for their homemade movies.
2006 - 09 - Warner Music Group Corp.'s agreement with YouTube Inc. marks the first time a big label has embraced the Internet's remix culture in which copyrighted works are reinterpreted by fans. It's a major step toward embracing technologies that the industry once tried to sue out of existence.
 2006 - 10 - RICHARD D. PARSONS NAMED MIPCOM PERSONALITY OF THE YEAR 2006, and as Television International Magazine, Person of the Week 402006, for the month of OCTOBER 2006 / MORE ABOUT TIMEWARNER AND RICHARD PARSONS / MORE ABOUT MIPCOM. /

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03 / About Reed MIDEM: / MORE ABOUT MIPCOM.
••• "We are extremely pleased to honour Richard Parsons as our MIPCOM Personality of the Year. Under his leadership, Time Warner informs, entertains and connects people all over the globe through its leading brands and programming," says Reed MIDEM Chief Executive Officer Paul Zilk. "In an ever-evolving world defined by constant technological and demographic change, Time Warner - with its long tradition of innovation and creativity - continues to shape not only our industry, but the culture we live in."
MORE ABOUT MIPCOM. / MIPCOM - Press DownloadZ
••• Reed MIDEM is a leading organizer of professional, international tradeshows. Reed MIDEM events have established themselves as key dates in professional diaries. The company hosts MIPDOC, MIPTV, MILIA, MIPCOM JUNIOR and MIPCOM for the television and multimedia industries, MIDEM for music professionals, MIPIM and MAPIC for the property sector and GLOBAL CITY for urban management specialists.
••• Reed MIDEM is a division of Reed Exhibitions, is the world's leading organiser of exhibitions and conferences delivering over 460 events and serving 52 industry sectors. Today Reed events are held in 38 countries throughout the Americas, Europe, the Middle East and Asia Pacific.

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EDITORS NOTE / Related Stories

1974 - Front Cover of Warner Bros - Reprise Records Circular Magazine, December 8, 1975. Authored by: Harvey Geller, of Bill Board Magazine. Title of Story, "The Man History Overheard" - "Stubblefield and His "Raidio." MORE WB NBS STORY FRONT COVER
1977 - In 1977, Parsons returned to New York and became a partner at the Patterson, Belknap firm. He left the firm to become head of Dime Savings Bank. He became the bank's CEO, seeing it through a merger with Anchor Savings Bank and pocketed a substamtial amount for the management and shareholdersof depositors' value in the de-mutualization craze of the 1980s-1990s when he demutualized the Dime.
1987 - China Connection. MORE STORY ABOUT WARNER BROS / VRA IN CHINA - 1987
1988 - Warner Bros. - First Movie Studio into China. Page 14 Trivals Facts: Warner Bros. Soloman Front Cover of Warner Bros - Reprise Records Circular MORE STORY ABOUT WARNER BROS IN CHINA WITH TVI MAGAZINE - 1988

CLICK TO CONTINUE - China History05 - EVENTS Photos

1975 - Front Cover of Warner Bros - Reprise Records Circular Magazine December 8, 1975. MORE WB NBS STORY FRONT COVER
1987 - China Connection. MORE STORY ABOUT WARNER BROS / VRA IN CHINA - 1987
1988 - Warner Bros. - First Movie Studio into China.
2006/Imagespeople/JiangZeminN46w.jpg2006/ImagesPeople/DengXiaopingMagCov46w.jpg2006/ImagesPersonOfTheWeek/95HuJintao1806MagCover46w.jpg

MORE ABOUT TIMEWARNER AND RICHARD PARSONS
MORE ABOUT MIPCOM. /
MIPCOM - Press DownloadZ

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