Chapter 646
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Richard Parsons, aged 60, graduated from the University of Hawaii and Albany law school. He is a lawyer and banker. His first job was for Nelson Rockefeller, then governor of New York, and he followed Rockefeller into the White House after he was elected vice president.
In addition, he also opened a legal service company and once served as the president of a savings and lending group in New York. In 1990, Parsons joined Time Warner at the invitation of Steven Ross, the then CEO of Time Warner, and then promoted rapidly. In May 2000, Parsons served as the CEO of AOL Time Warner.
Some analysts pointed out that Parsons' election has a lot to do with his excellent diplomatic skills. For this company with complex internal contradictions, what it needs most is the "lubricant" of interpersonal relations. How to make 1 + 1 greater than 2 rather than less than 2 mainly depends on the coordination ability of company leaders, and Parsons is very good at this.
It is worth pointing out that, as an African American black, it is not easy for Parsons to monopolize the power of the world's first media company. In the eyes of the American people, the news that Parsons came to power as CEO is no less explosive than Bush's appointment of Powell as the first black Secretary of state in American history.
Like Kenneth chenott, chairman of American Express, he is also the most famous African American senior manager in American business circles. Parsons likes to joke and always makes people feel relaxed, which also makes people often underestimate his ability at the beginning. When he was appointed CEO of American online Time Warner, people thought he was not a typical media man, BusinessWeek simply called him a "non dignitary". His rich experience has trained his excellent diplomatic skills, so he has become the first choice for the company to solve the crisis.
Long before the marriage of the two giants, he became a public relations expert for Levin, the boss of Time Warner; When AOL merged with Time Warner, he was sent to persuade regulators. As William, chairman of the Federal Communications Commission, said, "he is a person who can talk to anyone and solve any problem". It was this quality that pushed him to the peak of power of American online Time Warner.
From case's resignation to the appointment of a new chairman, American online Time Warner took only four days. This decisive and quick decision style has been highly praised by many investors and analysts. They believe that the concentration of the company's leadership can avoid the internal power struggle, which marks the end of the long running in period after the merger of the two giants. The former senior management of AOL has almost left, and the company has entered the era of dominance of Time Warner. After being appointed as chairman, Parsons immediately said that he would lead his team to unite and lead the company out of the current dilemma.
With regard to the next strategic deployment, Parsons said that the company had no intention of selling AOL and would not remove AOL from the company's name. "I believe that AOL is one of the most famous and valued brands in China. It is synonymous with the Internet. Why should I throw it away?" the company plans to launch broadband strategy in the American and overseas markets. The network division expects advertising sales to recover this year, but it can turn losses into profits by 2004.
In January 2001, AOL and Time Warner merged to form "AOL Time Warner". At that time, American public opinion said that "it may be the most important event in the development of the Internet world".
Senior executives of both sides also tried their best to disclose such a message to the outside world: the "marriage" between the world's largest portal and traditional publishing giants will completely change the pattern of the media industry. After the merger, the new company is 55% owned by American online and 45% owned by Time Warner. The chairman of the new company is Keith, the boss of American online, and the CEO is controlled by Levin, the boss of Time Warner. Other senior management positions are equally divided between the two sides. Parsons produces program content, including Warner Brothers, New Line Cinema, Warner records and Time Warner's publishing company.
Parsons is also a member of the board of directors of AOL Time Warner. However, after the merger, the company has been plagued by business problems, cultural conflicts and high profit expectations. There has been a fierce collision between traditional and new network media.
At the beginning of the merger, the management of the former American online party was aggressive and took itself as a natural winner. However, "people are worse than days". With the collapse of the Internet bubble, the new company's online branch of the company immediately fell into a low ebb and grew sluggish, leading to a gradual decline in the share price of the new company. What's worse, the online Department of the United States is also involved in the scandal of the company's exaggerated performance, which is being investigated by the securities and Exchange Commission of the United States and the Ministry of justice.
The disappointing performance made the former management of AOL have no confidence to speak. Whoever makes money is the leader. Therefore, AOL has been defeated in the power struggle within the company. In 2001, after Levin, the CEO of the new company announced his early retirement, the new company appointed Parsons from Time Warner instead of Robert pitman from AOL.
To make matters worse, Pittman couldn't even get along with the COO. He was "expelled" from office in May 2002 and replaced by the senior media manager of Time Warner, while Keith, a generation of Internet tycoon, was the last senior manager of American online to leave the new company.
This really confirms a common saying: "one mountain cannot tolerate two tigers". Investors reacted differently to Parsons becoming the full head of the company. Some investors said that Parsons had two jobs, making it more difficult for American online time warner to find a way out; Some investors believe that the management level of the company has little to do with whether the chairman and CEO are concurrently held by one person, and the key lies in who holds these positions.
Judging from the stock market reaction, investors welcomed the decision. On the same day, American online Time Warner shares rose 6 cents to $15.30.
So far, Parsons will take over the scepter of American online Time Warner. At the same time, it also marks that the traditional Time Warner will dominate the "first Kingdom" of the merged world media.
In the view of the board of directors, the most important issue at present is to establish a clear and unified leadership, not a supervision system. Of course, the supervision system is also very important. In order to dispel the doubts of investors, the board of directors said in a statement on the 16th that the company will hold special board meetings in the future (only ordinary directors are allowed to participate, excluding senior managers including the CEO) to strengthen the supervision of the company's decision-making.
The appointment of Time Warner ensured their absolute control over the company. Parsons also became the most powerful boss in the history of time bina. He also lived up to expectations and ensured the interests of Time Warner. However, AOL was unable to save him. He was a victim of technological innovation and something that the times would inevitably abandon. No one could save him. Finally, he inevitably fell, Once a big Internet enterprise, it has become a subsidiary of Time Warner.
How frustrating is this, which is equivalent to a flat husband who becomes a working younger brother after divorce.
However, they just dumped Time Warner and were immediately acquired by Davis fund, and Richard Perkins met Martin under Mark's needle and continued to be the boss of Time Warner.
This time, mark can't take a stake in Time Warner without the support of the big man.
Mark met Richard and Barry Mayer in his apartment in Times Square. Barry, the vice president of Time Warner who was transferred by the president of Warner Brothers, is far inferior to Richard in terms of prestige and seniority, but they are the strongest alliance in the board of directors. Moreover, with years of accumulation, they have also become one of the shareholders of Time Warner and hold a lot of shares, although they can't compete with Martin Turner and others, but also a well-known member of the general meeting of shareholders.
The relationship between the two sides is good. The parties in the small circle are full of wine and excitement. Except Richard and Barry, there are only mark, David, Sophia and Donald. Both Richard and Barry are human spirits. The main leaders of the Wang family fund gather together. Of course, there are major events. They pretend not to know, drink, talk and laugh, etc.
David said: "Richard, we have reached an agreement with Davis fund. They will transfer the equity of Time Warner to us in the next three years. I need to know the attitude of the management."
Both Richard and Barry were surprised. They knew something big would happen, but they didn't expect it to be so big, which meant that time warner changed again.
After entering the new millennium, Time Warner has been in constant turmoil. First, it failed to merge with AOL, and then it fell into the hands of Martin Davis, an ambitious man. This guy bought Time Warner, which is a little inexplicable. He spent tens of billions to win this big company, but he didn't reform and rectify the company. Just like those rich people who bought a super car, but never drove it, No one knows what he means.
Maybe mark realized that this was the poisonous apple Martin used to appease him and lure him. This was a gift mark couldn't refuse.
Richard exclaimed, "is it all?"
Mark said: "yes, in three years, all the Time Warner equity in Davis fund will be sold to me. Richard, what do you think?"
Richard was obviously surprised and said, "my attitude towards this is cautious. This is a big event and we need time to digest."
"Richard, I understand your concerns, but it is imperative for Time Warner to belong to the Wang family fund," David said, showing their secret agreement with the Davis fund.
Richard has no doubt about this. He said: "I can't influence the opinions of the management, but I personally support it."
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Richard Parsons, aged 60, graduated from the University of Hawaii and Albany law school. He is a lawyer and banker. His first job was for Nelson Rockefeller, then governor of New York, and he followed Rockefeller into the White House after he was elected vice president.
In addition, he also opened a legal service company and once served as the president of a savings and lending group in New York. In 1990, Parsons joined Time Warner at the invitation of Steven Ross, the then CEO of Time Warner, and then promoted rapidly. In May 2000, Parsons served as the CEO of AOL Time Warner.
Some analysts pointed out that Parsons' election has a lot to do with his excellent diplomatic skills. For this company with complex internal contradictions, what it needs most is the "lubricant" of interpersonal relations. How to make 1 + 1 greater than 2 rather than less than 2 mainly depends on the coordination ability of company leaders, and Parsons is very good at this.
It is worth pointing out that, as an African American black, it is not easy for Parsons to monopolize the power of the world's first media company. In the eyes of the American people, the news that Parsons came to power as CEO is no less explosive than Bush's appointment of Powell as the first black Secretary of state in American history.
Like Kenneth chenott, chairman of American Express, he is also the most famous African American senior manager in American business circles. Parsons likes to joke and always makes people feel relaxed, which also makes people often underestimate his ability at the beginning. When he was appointed CEO of American online Time Warner, people thought he was not a typical media man, BusinessWeek simply called him a "non dignitary". His rich experience has trained his excellent diplomatic skills, so he has become the first choice for the company to solve the crisis.
Long before the marriage of the two giants, he became a public relations expert for Levin, the boss of Time Warner; When AOL merged with Time Warner, he was sent to persuade regulators. As William, chairman of the Federal Communications Commission, said, "he is a person who can talk to anyone and solve any problem". It was this quality that pushed him to the peak of power of American online Time Warner.
From case's resignation to the appointment of a new chairman, American online Time Warner took only four days. This decisive and quick decision style has been highly praised by many investors and analysts. They believe that the concentration of the company's leadership can avoid the internal power struggle, which marks the end of the long running in period after the merger of the two giants. The former senior management of AOL has almost left, and the company has entered the era of dominance of Time Warner. After being appointed as chairman, Parsons immediately said that he would lead his team to unite and lead the company out of the current dilemma.
With regard to the next strategic deployment, Parsons said that the company had no intention of selling AOL and would not remove AOL from the company's name. "I believe that AOL is one of the most famous and valued brands in China. It is synonymous with the Internet. Why should I throw it away?" the company plans to launch broadband strategy in the American and overseas markets. The network division expects advertising sales to recover this year, but it can turn losses into profits by 2004.
In January 2001, AOL and Time Warner merged to form "AOL Time Warner". At that time, American public opinion said that "it may be the most important event in the development of the Internet world".
Senior executives of both sides also tried their best to disclose such a message to the outside world: the "marriage" between the world's largest portal and traditional publishing giants will completely change the pattern of the media industry. After the merger, the new company is 55% owned by American online and 45% owned by Time Warner. The chairman of the new company is Keith, the boss of American online, and the CEO is controlled by Levin, the boss of Time Warner. Other senior management positions are equally divided between the two sides. Parsons produces program content, including Warner Brothers, New Line Cinema, Warner records and Time Warner's publishing company.
Parsons is also a member of the board of directors of AOL Time Warner. However, after the merger, the company has been plagued by business problems, cultural conflicts and high profit expectations. There has been a fierce collision between traditional and new network media.
At the beginning of the merger, the management of the former American online party was aggressive and took itself as a natural winner. However, "people are worse than days". With the collapse of the Internet bubble, the new company's online branch of the company immediately fell into a low ebb and grew sluggish, leading to a gradual decline in the share price of the new company. What's worse, the online Department of the United States is also involved in the scandal of the company's exaggerated performance, which is being investigated by the securities and Exchange Commission of the United States and the Ministry of justice.
The disappointing performance made the former management of AOL have no confidence to speak. Whoever makes money is the leader. Therefore, AOL has been defeated in the power struggle within the company. In 2001, after Levin, the CEO of the new company announced his early retirement, the new company appointed Parsons from Time Warner instead of Robert pitman from AOL.
To make matters worse, Pittman couldn't even get along with the COO. He was "expelled" from office in May 2002 and replaced by the senior media manager of Time Warner, while Keith, a generation of Internet tycoon, was the last senior manager of American online to leave the new company.
This really confirms a common saying: "one mountain cannot tolerate two tigers". Investors reacted differently to Parsons becoming the full head of the company. Some investors said that Parsons had two jobs, making it more difficult for American online time warner to find a way out; Some investors believe that the management level of the company has little to do with whether the chairman and CEO are concurrently held by one person, and the key lies in who holds these positions.
Judging from the stock market reaction, investors welcomed the decision. On the same day, American online Time Warner shares rose 6 cents to $15.30.
So far, Parsons will take over the scepter of American online Time Warner. At the same time, it also marks that the traditional Time Warner will dominate the "first Kingdom" of the merged world media.
In the view of the board of directors, the most important issue at present is to establish a clear and unified leadership, not a supervision system. Of course, the supervision system is also very important. In order to dispel the doubts of investors, the board of directors said in a statement on the 16th that the company will hold special board meetings in the future (only ordinary directors are allowed to participate, excluding senior managers including the CEO) to strengthen the supervision of the company's decision-making.
The appointment of Time Warner ensured their absolute control over the company. Parsons also became the most powerful boss in the history of time bina. He also lived up to expectations and ensured the interests of Time Warner. However, AOL was unable to save him. He was a victim of technological innovation and something that the times would inevitably abandon. No one could save him. Finally, he inevitably fell, Once a big Internet enterprise, it has become a subsidiary of Time Warner.
How frustrating is this, which is equivalent to a flat husband who becomes a working younger brother after divorce.
However, they just dumped Time Warner and were immediately acquired by Davis fund, and Richard Perkins met Martin under Mark's needle and continued to be the boss of Time Warner.
This time, mark can't take a stake in Time Warner without the support of the big man.
Mark met Richard and Barry Mayer in his apartment in Times Square. Barry, the vice president of Time Warner who was transferred by the president of Warner Brothers, is far inferior to Richard in terms of prestige and seniority, but they are the strongest alliance in the board of directors. Moreover, with years of accumulation, they have also become one of the shareholders of Time Warner and hold a lot of shares, although they can't compete with Martin Turner and others, but also a well-known member of the general meeting of shareholders.
The relationship between the two sides is good. The parties in the small circle are full of wine and excitement. Except Richard and Barry, there are only mark, David, Sophia and Donald. Both Richard and Barry are human spirits. The main leaders of the Wang family fund gather together. Of course, there are major events. They pretend not to know, drink, talk and laugh, etc.
David said: "Richard, we have reached an agreement with Davis fund. They will transfer the equity of Time Warner to us in the next three years. I need to know the attitude of the management."
Both Richard and Barry were surprised. They knew something big would happen, but they didn't expect it to be so big, which meant that time warner changed again.
After entering the new millennium, Time Warner has been in constant turmoil. First, it failed to merge with AOL, and then it fell into the hands of Martin Davis, an ambitious man. This guy bought Time Warner, which is a little inexplicable. He spent tens of billions to win this big company, but he didn't reform and rectify the company. Just like those rich people who bought a super car, but never drove it, No one knows what he means.
Maybe mark realized that this was the poisonous apple Martin used to appease him and lure him. This was a gift mark couldn't refuse.
Richard exclaimed, "is it all?"
Mark said: "yes, in three years, all the Time Warner equity in Davis fund will be sold to me. Richard, what do you think?"
Richard was obviously surprised and said, "my attitude towards this is cautious. This is a big event and we need time to digest."
"Richard, I understand your concerns, but it is imperative for Time Warner to belong to the Wang family fund," David said, showing their secret agreement with the Davis fund.
Richard has no doubt about this. He said: "I can't influence the opinions of the management, but I personally support it."
Richard Parsons, aged 60, graduated from the University of Hawaii and Albany law school. He is a lawyer and banker. His first job was for Nelson Rockefeller, then governor of New York, and he followed Rockefeller into the White House after he was elected vice president.In addition, he also opened a legal service company and once served as the president of a savings and lending group in New York. In 1990, Parsons joined Time Warner at the invitation of Steven Ross, the then CEO of Time Warner, and then promoted rapidly. In May 2000, Parsons served as the CEO of AOL Time Warner.Some analysts pointed out that Parsons' election has a lot to do with his excellent diplomatic skills. For this company with complex internal contradictions, what it needs most is the "lubricant" of interpersonal relations. How to make 1 + 1 greater than 2 rather than less than 2 mainly depends on the coordination ability of company leaders, and Parsons is very good at this.It is worth pointing out that, as an African American black, it is not easy for Parsons to monopolize the power of the world's first media company. In the eyes of the American people, the news that Parsons came to power as CEO is no less explosive than Bush's appointment of Powell as the first black Secretary of state in American history.Like Kenneth chenott, chairman of American Express, he is also the most famous African American senior manager in American business circles. Parsons likes to joke and always makes people feel relaxed, which also makes people often underestimate his ability at the beginning. When he was appointed CEO of American online Time Warner, people thought he was not a typical media man, BusinessWeek simply called him a "non dignitary". His rich experience has trained his excellent diplomatic skills, so he has become the first choice for the company to solve the crisis.Long before the marriage of the two giants, he became a public relations expert for Levin, the boss of Time Warner; When AOL merged with Time Warner, he was sent to persuade regulators. As William, chairman of the Federal Communications Commission, said, "he is a person who can talk to anyone and solve any problem". It was this quality that pushed him to the peak of power of American online Time Warner.From case's resignation to the appointment of a new chairman, American online Time Warner took only four days. This decisive and quick decision style has been highly praised by many investors and analysts. They believe that the concentration of the company's leadership can avoid the internal power struggle, which marks the end of the long running in period after the merger of the two giants. The former senior management of AOL has almost left, and the company has entered the era of dominance of Time Warner. After being appointed as chairman, Parsons immediately said that he would lead his team to unite and lead the company out of the current dilemma.With regard to the next strategic deployment, Parsons said that the company had no intention of selling AOL and would not remove AOL from the company's name. "I believe that AOL is one of the most famous and valued brands in China. It is synonymous with the Internet. Why should I throw it away?" the company plans to launch broadband strategy in the American and overseas markets. The network division expects advertising sales to recover this year, but it can turn losses into profits by 2004.In January 2001, AOL and Time Warner merged to form "AOL Time Warner". At that time, American public opinion said that "it may be the most important event in the development of the Internet world".Senior executives of both sides also tried their best to disclose such a message to the outside world: the "marriage" between the world's largest portal and traditional publishing giants will completely change the pattern of the media industry. After the merger, the new company is 55% owned by American online and 45% owned by Time Warner. The chairman of the new company is Keith, the boss of American online, and the CEO is controlled by Levin, the boss of Time Warner. Other senior management positions are equally divided between the two sides. Parsons produces program content, including Warner Brothers, New Line Cinema, Warner records and Time Warner's publishing company.Parsons is also a member of the board of directors of AOL Time Warner. However, after the merger, the company has been plagued by business problems, cultural conflicts and high profit expectations. There has been a fierce collision between traditional and new network media.At the beginning of the merger, the management of the former American online party was aggressive and took itself as a natural winner. However, "people are worse than days". With the collapse of the Internet bubble, the new company's online branch of the company immediately fell into a low ebb and grew sluggish, leading to a gradual decline in the share price of the new company. What's worse, the online Department of the United States is also involved in the scandal of the company's exaggerated performance, which is being investigated by the securities and Exchange Commission of the United States and the Ministry of justice.The disappointing performance made the former management of AOL have no confidence to speak. Whoever makes money is the leader. Therefore, AOL has been defeated in the power struggle within the company. In 2001, after Levin, the CEO of the new company announced his early retirement, the new company appointed Parsons from Time Warner instead of Robert pitman from AOL.To make matters worse, Pittman couldn't even get along with the COO. He was "expelled" from office in May 2002 and replaced by the senior media manager of Time Warner, while Keith, a generation of Internet tycoon, was the last senior manager of American online to leave the new company.This really confirms a common saying: "one mountain cannot tolerate two tigers". Investors reacted differently to Parsons becoming the full head of the company. Some investors said that Parsons had two jobs, making it more difficult for American online time warner to find a way out; Some investors believe that the management level of the company has little to do with whether the chairman and CEO are concurrently held by one person, and the key lies in who holds these positions.Judging from the stock market reaction, investors welcomed the decision. On the same day, American online Time Warner shares rose 6 cents to $15.30.So far, Parsons will take over the scepter of American online Time Warner. At the same time, it also marks that the traditional Time Warner will dominate the "first Kingdom" of the merged world media.In the view of the board of directors, the most important issue at present is to establish a clear and unified leadership, not a supervision system. Of course, the supervision system is also very important. In order to dispel the doubts of investors, the board of directors said in a statement on the 16th that the company will hold special board meetings in the future only ordinary directors are allowed to participate, excluding senior managers including the CEO to strengthen the supervision of the company's decision-making.The appointment of Time Warner ensured their absolute control over the company. Parsons also became the most powerful boss in the history of time bina. He also lived up to expectations and ensured the interests of Time Warner. However, AOL was unable to save him. He was a victim of technological innovation and something that the times would inevitably abandon. No one could save him. Finally, he inevitably fell, Once a big Internet enterprise, it has become a subsidiary of Time Warner.How frustrating is this, which is equivalent to a flat husband who becomes a working younger brother after divorce.However, they just dumped Time Warner and were immediately acquired by Davis fund, and Richard Perkins met Martin under Mark's needle and continued to be the boss of Time Warner.This time, mark can't take a stake in Time Warner without the support of the big man.Mark met Richard and Barry Mayer in his apartment in Times Square. Barry, the vice president of Time Warner who was transferred by the president of Warner Brothers, is far inferior to Richard in terms of prestige and seniority, but they are the strongest alliance in the board of directors. Moreover, with years of accumulation, they have also become one of the shareholders of Time Warner and hold a lot of shares, although they can't compete with Martin Turner and others, but also a well-known member of the general meeting of shareholders.The relationship between the two sides is good. The parties in the small circle are full of wine and excitement. Except Richard and Barry, there are only mark, David, Sophia and Donald. Both Richard and Barry are human spirits. The main leaders of the Wang family fund gather together. Of course, there are major events. They pretend not to know, drink, talk and laugh, etc.David said: "Richard, we have reached an agreement with Davis fund. They will transfer the equity of Time Warner to us in the next three years. I need to know the attitude of the management."Both Richard and Barry were surprised. They knew something big would happen, but they didn't expect it to be so big, which meant that time warner changed again.After entering the new millennium, Time Warner has been in constant turmoil. First, it failed to merge with AOL, and then it fell into the hands of Martin Davis, an ambitious man. This guy bought Time Warner, which is a little inexplicable. He spent tens of billions to win this big company, but he didn't reform and rectify the company. Just like those rich people who bought a super car, but never drove it, No one knows what he means.Maybe mark realized that this was the poisonous apple Martin used to appease him and lure him. This was a gift mark couldn't refuse.Richard exclaimed, "is it all?"Mark said: "yes, in three years, all the Time Warner equity in Davis fund will be sold to me. Richard, what do you think?"Richard was obviously surprised and said, "my attitude towards this is cautious. This is a big event and we need time to digest.""Richard, I understand your concerns, but it is imperative for Time Warner to belong to the Wang family fund," David said, showing their secret agreement with the Davis fund.Richard has no doubt about this. He said: "I can't influence the opinions of the management, but I personally support it."
