What about old Time Warner Message Board

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Technology Stocks : What about old Time Warner

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Jun 15 5:00 PM EST

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To: KewlHand who wrote (49)	10/11/2005 10:36:08 AM
From: sixty2nds	Read Replies (1) of 102

06:11 TWX Time Warner: Icahn pressures Time Warner for changes - NY Times (18.01 ) According to the NY Times, Carl Icahn has increased his stake in Time Warner and is challenging the track record of the co's senior managers and directors, dating back to its merger with America Online. The moves are a part of his campaign to push for changes and board seats at the media conglomerate. Mr. Icahn is expected to say in a letter to Time Warner shareholders, to be filed with regulators as soon as this morning, that the co's board and top mgmt have produced a "dismal record of mistakes and inaction" since the AOL merger in '00. The letter notes that 12 of Time Warner's 15 current directors, including the chmn and CEO Richard D. Parsons, voted in favor of the combination that led to the loss of more than 75% of the co's mkt value over 2 years. "Why are a majority of the same directors who signed off on the disastrous AOL merger still steering the corporate ship?" the letter asks.

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