Filed under: Time Warner (TWX), Time Warner Cable (TWC)

Shares of Time Warner Inc. (NYSE: TWX) are launching up over 2.5% mid-day on a report out of the Times Of London that Chairman & CEO Richard Parsons is set to announce his exit from the company.

“In the most dramatic shift of power for more than five years, Jeff Bewkes is poised to head one of the world’s largest media groups …”

This names Jeff Bewkes as successor, and if this is true will end up being the end of what many have already suspected. Parsons earlier this year even hinted at it himself.

You will want to watch Time Warner Cable (NYSE: TWC) on this as well. As we were sending this, CNBC just noted this as well.

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This entry was posted on Saturday, October 27th, 2007 at 3:02 am and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.