A much expected move has happened: Richard Parsons, the former CEO of Time Warner (NYSE: TWX), is now stepping down as the Chairman of the company board, and current CEO Jeff Bewkes will take over, starting Jan 1 next year. Bewkes took over from Parsons as CEO in January this year. The biggest media company in the world has seen many changes since then: it is spinning off Time Warner Cable (NYSE: TWC), has merged New Line Cinema and closed Picturehouse and Warner Independent Pictures, and its unit Time Inc recently announced laying off 600 of its employees.
This chairman change was all but decided when BEwkes took over, as he had a clause in his contract allowing him to resign if he wasn't named chairman within a year, as WSJ points out. Full story...
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Michael White, the PepsiCo vet who takes over as president and CEO of DirecTV (NYSE: DTV) Jan.
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The Daily Beast has named publishing vet Stephen Colvin as the site’s first president.
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Quinstreet, the Foster City, CA-based vertical media and marketing firm that recently bought Insure.
Adam Cahan is the CEO of Auditude, a Palo Alto, Calif.-based technology company that provides an ad platform for video management and monetization.