Richard Parsons
Richard Parsons
Richard Dean "Dick" Parsons, an American business executive, is the former chairman of Citigroup and the former chairman and CEO of Time Warner. He stepped down as CEO of Time Warner on December 31, 2007. He is currently the interim CEO of the Los Angeles Clippers NBA franchise...
NationalityAmerican
ProfessionBusiness Executive
Date of Birth4 April 1948
CountryUnited States of America
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Ted's leadership role in the formation of global media in general and AOL Time Warner in particular is uniquely significant, ... His values of journalistic independence and public service are a permanent part of who we are and what we do.
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I am highly gratified that the board shares my determination to maximize AOL Time Warner's tremendous potential, ... As we address the challenges facing our company and the industries in which we operate, I will work together with the extraordinary people in this company to focus on increasing value for our customers and our shareholders.
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We feel all the more confident in pursuing a more aggressive path to create value at AOL through both its subscription and advertising business initiatives.
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I do think that when clouds roll in, it takes a while for them to roll out of the sky even though a lot of good work has been done underneath, ... We're optimistic that, given time and the right type of exposure, the Street will begin to see real value there.
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In my view, the real source of undervaluation is neither of these things, ... The real driver of enhanced value, I think, is going to be AOL in the short term and the long term.
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We're very comfortable where we are in debt reduction program, ... I have every confidence we've got more than one way to get there. We have a number of alternatives, we're exploring them all.
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The road back may not be as short as we wish, ... But there are solid reasons to feel confident about the future.
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We have devoted a significant amount of time and resources to our review and, based on the substantial work we have done to date, do not expect any further restatements from it,
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sort of hit the pause button on that.
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Ted is my man. I love Ted, ... He knows more, particularly about the television space, which is at least a good third of this company. Ted and I have always had a wonderful relationship, and I am going to be reaching out to him, too.
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As I said to the investors today, 'Don't judge us by what we said, judge us by what we do,' ... It's going to take us a little while to do some things. But if quarter by quarter we show movement and progress against this plan, I think the investors will then sort of say, 'Well, you know, they've got something there.'
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We are the only media company with a major stake in the Internet
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My biggest dream for this company is to restore it - to bring Time Warner back to the position that I think it once had and, even better than that, to make it the greatest company in the media and entertainment world.
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We hope in the next several months that we'll be able to announce something positive there.