Word: levins
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Pittman says he is happy with his new role as sole COO, which suits his intricate knowledge of the company. "I love operating; I can't stand getting too far away from the business," he says. "The only downside," he told Levin, "is that when it's announced, my ego may be smarting a bit, only because there's been so much speculation that I'm going to be the heir apparent...
...they have too little time and freedom to grow their businesses because they're made to sit through endless meetings seeking to "coordinate" with half a dozen other divisions and achieve vague "synergies." Some of his colleagues believe Parsons will be more open to spinning off assets than was Levin...
...Some people in the company felt like the brash new kids from Dulles were coming in, overriding our borders and changing our culture," says Parsons. One continuing concern is whether AOL Time Warner will respect the editorial integrity of CNN and the Time Inc. magazines and fund them adequately. Levin, who often invokes TIME magazine founder Henry Luce, says he regards Parsons as someone who has "the Lucean thing about journalistic independence...
...Levin has been a tireless proponent of cable-TV systems as the gateway for delivering the Internet and entertainment. He has led AOL Time Warner into a battle with Comcast and Cox--both backed by Microsoft--to buy some or all of AT&T Broadband, the nation's largest cable company. But some executives and board members argue that there are ways--over telephone lines or by satellite--to reach those households without burdening AOL Time Warner with billions more in debt. Parsons is leading the AT&T talks and will have to decide what price--in dollars and regulatory...
...deal, made by AOL in the last days of the Internet bubble, committing it to pay at least $6.75 billion for Bertelsmann's stake in AOL Europe, an entity now valued at about $2 billion. Also troubling Cohen: "The difficulty in replicating the strategic and visionary strengths of Jerry Levin." The stock dropped more than 5% on her dour assessment, bringing it down 42% from postmerger highs...