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☆ Richard Parsons, former Time Warner CEO, dies at age 76
▼ + stars: | 2024-12-26 | by ( Marty Steinberg | ) www.cnbc.com time to read: +3 min

Richard 'Dick' Parsons Daniel Acker | Bloomberg | Getty ImagesRichard Parsons, who helped Time Warner divorce from AOL after what was considered one of the worst takeovers in history, has died. As CEO and later chairman, he led Time Warner's turnaround, dropping "AOL" from the corporation's name and shrinking the company's $30 billion in debt to $16.8 billion by selling Warner Music and other properties. He said that after the merger, AOL's business had collapsed and Warner Music Group was declining, along with the entire music industry. Nelson Rockefeller, who became vice president under Gerald Ford in 1974 in the wake of President Richard Nixon's resignation. Former New York City Mayor Rudy Giuliani, left, and Richard Parsons, CEO, Time Warner Inc. chat at the media welcome party hosted by Time Warner before the Republican National Convention in New York, New York on August 28, 2004.

Persons: Richard, Dick, Parsons Daniel Acker, Richard Parsons, Time Warner, Lazard, Parsons, Gerald Levin, —, Rockefeller, Richard Dean, Laura Ann Bush, Nelson Rockefeller, Gerald Ford, Richard Nixon's, Ford's, who've, Jimmy Carter, Belknap, Webb, Tyler, Rudy Giuliani, John D, Dennis Brack Organizations: Bloomberg, Getty, Time, AOL, AOL Time Warner, Warner Music, Independent, Warner Music Group, Time Warner, University of Hawaii, Albany Law School, moonlighting, Republican Gov, New York Times, Kykuit, Former New York City, Time Warner Inc, Republican National Convention Locations: Brooklyn's Bedford, Stuyvesant, Ozone, Queens , New York, New York, York, Patterson, Rockefeller, Briarcliff Manor, Westchester County, New York , New York

☆ How HBO survived merger after merger and changed television forever
▼ + stars: | 2023-04-23 | by ( Darren Geeter | ) www.cnbc.com time to read: +4 min

The network has survived merger after merger with one of the mergers, AOL Time Warner, considered the worst deal in modern American corporate history. The birth of HBO coincided with the modernization of television across the United States with the emergence of cable in the 1960s and 70s. HBO debuted on November 8, 1972, and it was one of the first paid television networks with 344 total subscribers in Wilkes Barre, Pennsylvania. We're going to have to do original series," Bewkes told CNBC. The Time Warner era ushered in a multiplex model for HBO to reduce churn and debuted original programming "Dream On" and "The Larry Sanders Show."

☆ Blockbuster pushed HBO to start investing in original content, cable giant's ex-chief says
▼ + stars: | 2023-04-05 | by ( Alex Sherman | ) www.cnbc.com time to read: +5 min

What's less known is it was also the catalyst for HBO's pivot toward original programming, according to former HBO and Time Warner CEO Jeff Bewkes. HBO, at the time led by Michael Fuchs, decided the answer was original programming. Source: HBO | YouTubeEven after "The Sopranos" debuted, HBO still faced a dilemma over how much to invest in original shows. HBO's TV schedule was always shifting, based on the length of feature films. Had HBO's early investments in original programming not hit, Bewkes acknowledged he's not sure what HBO would have done to fight off Blockbuster.

☆ AT&T seeks to shed cybersecurity division, sources tell Reuters
▼ + stars: | 2023-02-21 | by ( ) www.cnbc.com time to read: +2 min

AT&T Inc , the second-biggest U.S. wireless carrier, is exploring a sale of its cybersecurity division, potentially undoing an acquisition it completed five years ago, according to people familiar with the matter. The sale of the cybersecurity business would add to a string of divestments AT&T has turned to in order to pay down debt following its $108.7 billion acquisition of Time Warner Inc in 2018, a deal it has since also unwound. The sources cautioned that no deal is certain and requested anonymity because the matter is confidential. AT&T's cybersecurity division helps small-to-medium-sized businesses keep their information technology networks, including laptops, desktops, servers and mobile devices, secure. The acquisition of Alienvault was aimed at giving AT&T an edge in signing up and retaining corporate clients, but the deal's rationale has eroded as cybersecurity startups that offer cheap alternatives mushroomed.

☆ AT&T seeks to shed cybersecurity division -sources
▼ + stars: | 2023-02-21 | by ( Milana Vinn | ) www.reuters.com time to read: +2 min

NEW YORK, Feb 21 (Reuters) - AT&T Inc (T.N), the second-biggest U.S. wireless carrier, is exploring a sale of its cybersecurity division, potentially undoing an acquisition it completed five years ago, according to people familiar with the matter. The sale of the cybersecurity business would add to a string of divestments AT&T has turned to in order to pay down debt following its $108.7 billion acquisition of Time Warner Inc in 2018, a deal it has since also unwound. AT&T has been working with Barclays Plc (BARC.L) to solicit potential bids for its cybersecurity business, which was called Alienvault when it was acquired in 2018 in a roughly $600 million deal, the sources said. The sources cautioned that no deal is certain and requested anonymity because the matter is confidential. AT&T's cybersecurity division helps small-to-medium-sized businesses keep their information technology networks, including laptops, desktops, servers and mobile devices, secure.

☆ Richard Parsons Is Investing in People Who Are Overlooked
▼ + stars: | 2023-02-10 | by ( Emily Bobrow | ) www.wsj.com time to read: 1 min

When Richard Parsons became chief executive of Time Warner Inc. in 2002, he assumed he was pioneering a new era of Black CEOs in American corporations. “I had envisioned that on the heels of the Great Society initiatives of the 1970s, there would be a wave of people who were ready,” he says. “But for a number of reasons, this didn’t happen.” Today, only six Fortune 500 companies are run by Black CEOs—a record high. After decades of leading companies as varied as Citigroup Inc. and the NBA’s Los Angeles Clippers, Mr. Parsons, 74, felt moved to tackle this pipeline problem himself. Together with a team of venture investors, including Ronald Lauder and Kenneth Lerer , he launched the New York-based Equity Alliance fund in 2021 to “democratize capital” by backing venture funds and early-stage ventures led by women and people of color.

It isn’t clear yet who will succeed Mr. Segal as CFO. Twitter and Mr. Musk on Friday didn’t respond to requests for comment. Mr. Segal on Friday tweeted that “the work isn’t complete,” referring to Twitter’s ambition to build “the world’s townsquare.” Mr. Segal didn’t respond to a request for additional comment. Mr. Musk has said buying Twitter would accelerate his creation of an app that combines the capabilities of several apps in one. The future executives that Mr. Musk installs will have to share his vision for Twitter, Mr. Ives said, and prepare to support growth initiatives that will take years to build.

☆ How the creators of 'The Starters' built a hit NBA podcast for The Athletic after losing their TV show
▼ + stars: | 2022-09-19 | by ( Colin Salao | ) www.businessinsider.com time to read: +7 min

"No Dunks'' is an NBA podcast from the creators of "The Basketball Jones" and "The Starters." In 2019, after their NBA TV show contract ended, the creators signed a deal with The Athletic. The quintet is a far cry from the 20-man team and TV studio that Turner Sports' NBA TV provided during their six-year run with the network. How 'The Starters' became 'The Free Agents'"The Starters" got off in 2013 to a rough start on NBA TV as they struggled to translate their hour-long podcast to TV. Wasserman said the show is The Athletic's biggest NBA podcast and one of its highest-rated out of 77 podcasts.

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