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Richard Dean Parsons (April 4, 1948 – December 26, 2024) was an American business executive, notably the chairman of Citigroup and the chairman and CEO of Time Warner.He had also been the interim CEO of the Los Angeles Clippers of the National Basketball Association (NBA) and the interim chairman of the board for CBS.
Gerald M. Levin (May 6, 1939 – March 13, 2024) was an American media businessman. Levin was involved in brokering the merger between AOL and Time Warner in 2000, at the height of the dot-com bubble, a merger which was ultimately disadvantageous to Time Warner and described as "the biggest train wreck in the history of corporate America."
Parsons was widely credited with the turnaround of Time Warner after its botched $165 billion merger with AOL, CNN reported. With Parsons as CEO, Time Warner slashed its debt by roughly half as it ...
Jerry Levin, known as the CEO who pushed for the ‘worst merger in corporate history,’ is less known for falling on his sword for the $350 billion deal later in life
The landmark decision on Tuesday to greenlight the $85 billion AT&T-Time Warner deal by U.S. District Court Judge Richard Leon lifted media ETFs in early Wednesday trading.
In 2001, AOL merged with Time Warner to become AOL Time Warner. Due to the larger market capitalization of AOL, it gained ascendancy in the merger, with its executives largely displacing Time Warner's despite AOL's far smaller assets and revenues. AOL was spun off as its own independent company from Time Warner in 2009.
On 26 February 2016 Georgia Today Group announced the release of another version of GT - Georgia Today Education. The paper is issued monthly and is mostly focused on education, technology, innovative business, international events and language learning. The main target audience of Georgia Today Education are teenagers and university students. [8]
After the merger, creating AOL Time Warner, factors like the dot-com recession greatly affected the company, leading to a historic $100 billion write-down. Levin resigned in 2002.