Word: rossing
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Levin rejoined the board in 1988 as Time Inc. vice chairman and added the title of chief operating officer of Time Warner last spring. He not only cultivated ties with Ross but also made a point of learning all he could about Warner's movie and other entertainment operations...
...number of thoughtful observers, both inside and outside the company, feel that Levin will be more able to bridge the two cultures than the reserved Nicholas was. But they doubt that Levin will help Ross complete any takeover. "Levin is not in the Ross faction," says Andrew Heiskell, a former chairman of Time Inc. "He's in the Levin faction." One Time Warner director predicts that under Levin "there's going to be a real effort to have the Time Incers feel they're more important and that they are players...
...billion to $8.7 billion, and in the final quarter of 1991 reported its first profit, of $45 million, since the merger. Nonetheless, many financial sources say it has been moving much more slowly than it should have been because of near paralytic tension at the top -- tension between Ross and Nicholas...
...aftermath of his overthrow, Nicholas told friends that Ross didn't like his independence of mind. Others say the troubles stemmed largely from personality clashes between the ostensibly equal chieftains. "There are not two people more mismatched," says a top executive. In Ross, he maintains, "you have a dreamer and a visionary, a plunger and schemer"; in Nicholas "a guy who's small and risk averse. You could hardly get a yes out of him. He loved the status quo." While Ross is generally described as a charmer, Nicholas "is not a likable guy," says a director. Some executives...
Henry Luce III, son of Time co-founder Henry R. Luce and a Time Warner director, corroborates a widespread report that the "one solid issue" triggering Nicholas' downfall was his attempt to block one of Ross's major deals: Time Warner's sale of a 12 1/2% share in its movie, cable-TV and Home Box Office operations to two Japanese companies, electronics maker Toshiba and C. Itoh, a trading company, for $1 billion. Luce says that while Ross wanted to bring foreign investors into operations that Time Warner would continue to control, Nicholas favored selling off assets outright...