Time Warner’s (NYSE: TWX) CEO change is not necessarily a secret, but WSJ says a decision on JeffBewkes, president and COO, will come before the end of this year, reports WSJ, citing sources. He is expected to take the reins as early as Jan. 1, five months before Parsons’s contract expires, the story says, and Parsons is expected to retain the chairman’s title. TW board should be approving it in the coming weeks.
The biggest question before Bewkes, as the story points out, will be AOL. Bewkes presided over AOL’s open-Web makeup, but an unexpected decline in AOL’s ad growth in Q2 forced Time Warner to lower guidance for AOL’s revenue — the first time in several years that the company has missed a target. The din for AOL’s spin-off will only get louder if Bewkes doesn’t come up with a solution soon.
Staci adds: Bewkes also has been directly involved in the issues at Time Inc. and is now facing some programming challenges at HBO, the premium network that helped him rise up the ranks.
{"source":"https:\/\/gigaom.com\/2007\/09\/17\/419-bewkes-expected-to-be-confirmed-as-time-warner-ceo-later-this-year-repo\/wijax\/49e8740702c6da9341d50357217fb629","varname":"wijax_78d8ae3d32040c7b8241a30f5ad5de11","title_element":"header","title_class":"widget-title","title_before":"%3Cheader%20class%3D%22widget-title%22%3E","title_after":"%3C%2Fheader%3E"}