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In the short term, at least, Turner's departure could help Parsons, giving him more leeway to negotiate a combining of the company's CNN news channel with ABC News, said Quaisar Hasan, an analyst with Utendahl Capital Partners , Richard Parsons is showing shareholders of a conglomerate assembled by a cast of outsized personalities, how he'll play the lead: with cautious realism and a deliberate absence of bold promises Turner, the eccentric cable television pioneer who remains AOL Time Warner's largest individual shareholder with about 3 They said it was difficult to know how Turner's departure affects Parson's job, especially given Turner's knack for unpredictability The pair, along with former chief operating officer Robert Pittman, bore the brunt of investor anger over the dysfunctional marriage of the firms aoltimewarner com Turner, who founded CNN, was known to be a sharp critic of such an arrangement " That should tell investors not to expect miracles any time soon, analyst Hasan said "Right now, I think Dick Parsons is really trying to focus on what is realistic 5 billion charge against earnings late Wednesday to account for its plunging value Shares in AOL fell Thursday, as investors digested the company's results "I think people are starting to finally realize it's going to take more time to get this fixed than perhaps they had previously thought," said Tom Wolzien, an analyst with Sanford C But in taking the enormous writedown â€â€? one that was more than double what some observers expected despite the fact that such a calculation is required under accounting rules â€â€? the company and Parsons moved to clear AOL's financial decks, analysts said Thursday It also is radically different from the disillusioned grumbling of Ted Turner, who stole some of the spotlight Wednesday when he announced his plans to step down as the company's vice chairman Bernstein & Co AOL's New CEO Trying to Turn Corner Jan 30, 5:08 PM EST Just two weeks after being named to the top job at AOL Time Warner Inc But analysts said it appears unlikely that AOL would be interested in selling an operation that is at the core of its business, and noted that with so much of his fortune tied up in depressed company stock, Turner could be constrained from making large purchases unless he sells his stake On Wednesday, he promised a campaign to reduce the company's debt and pledged to "run each of our businesses as well or better than before, with a continued major focus on stabilizing and revitalizing America Online The whopping loss that resulted, largely obscured quarterly results that were relatively strong for many of the company's traditional media businesses 5 percent of all stock, remains on the company's board for now In effect, he is letting the air out of any remaining expectations harbored by angry investors, who are being told to expect nothing more than gradual improvement Analysts said Thursday that Parsons and Turner have always appeared to get along well, and that Turner may well have left on his own accord after months of complaining openly of being marginalized Parsons is "going to really focus on making the most of what they have and trying to reset expectations to be reasonable and achievable, not trying to overpromise and underdeliver," said analyst James Goss of Barrington Research Associates Turner's departure fueled some speculation Thursday that he might try to buy CNN from AOL 96, or roughly 14 percent Parsons has "played down expectations alot, sort of a reversal from the early 2000 and 2001 days when expectations had been built up to unreasonably high levels," Hasan said " â€â€?â€â€?â€â€? On the Net: www But in looking ahead, Parsons spoke in vaguely upbeat but cautious tones and tried not to fan false hopes Meanwhile, Parsons, who has been at the company since 1995, is trying to set limited goals " By doing so, Parsons â€â€? who was named president last May and chairman of the board earlier this month, a title he will formally assume this May â€â€? is gaining time, analysts said "It's hard to know how Ted will surface Parson's circumspection is far different then the grand visions once promised by Steve Case, the co-founder of America Online who is giving up the chairman's seat to Parsons, or Gerry Levin, the former head of Time Warner who retired last year In afternoon trading, the shares were selling at $12, down $1 "I don't think anyone expects him to pull a rabbit out of the hat in the next few quarters AOL Time Warner executives conceded what many investors have long felt on an individual level when the company announced a staggering $45 It's an absolute certainty he will surface," Wolzien said "The Grammy producers, the network, the labels, the managers and the artists, too, probably realize that some kind of extra crotch grab or cuss word would not be beneficial to their careers "Get them on the Playboy Channel," Grohl said Thursday at a pre-Grammy rehearsal party "I'm not here to judge her performance or what she's done " But Foo Fighters lead singer Dave Grohl said Jackson's breast-baring stunt was nothing more than self-promotion and "blatant exhibitionism " Jackson's halftime partner, Justin Timberlake â€â€? who tore off the piece of clothing that exposed her right breast â€â€? will be there, however Blender magazine Editor Craig Marks pointed out that the Grammy ceremony is a conservative affair under normal circumstances One bad apple is spoiling the bunch I stand behind her always com "I feel like what's going on with Janet is unfair But many expect that Jackson's absence will be felt more than her presence would have been, and that her stunt will overshadow the awards themselves " â€â€?â€â€?â€â€? AP Writer Mason Stockstill in Los Angeles contributed to this report â€â€?â€â€?â€â€? On the Net: http://www The singer was supposed to have presented a special award for Luther Vandross, but pulled out amid the furor following her Super Bowl performance Dupri Backs Janet Jackson in Grammys Flap Feb 7, 10:50 AM EST Even without appearing at the Grammys Sunday night, Janet Jackson's presence will be inescapable Now, CBS is instituting a five-minute delay to allow enough time to edit out any potentially offensive moments during the show at Staples Center in Los Angeles "You're terrified that if I do this song, are they going to play it on the radio? I think music and entertainment are in a great place right now "I'm a big fan of Janet's," rapper-producer Missy Elliott said at a news conference Thursday in Los Angeles, where she was promoting a joint tour with Knowles and Alicia Keys I think she's an incredible talent " The former Nirvana drummer believes the music industry has been harmed by the recent skin-revealing exploits of Jackson, Britney Spears and Christina Aguilera com "Keep them out of my MTV grammy "I didn't want to be a part of something that's not treating people in the right light," Dupri said Now it's outrageous for the Grammys to punish Janet Jackson for performing that same role on someone else's stage Also avoiding the show will be Jackson's good friend, rapper and music producer Jermaine Dupri, who announced Friday he was resigning as president of the Recording Academy's Atlanta chapter " And what can we expect from Timberlake? "I think he would be smart to ignore it," Marks said " JC Chasez, Timberlake's 'N Sync bandmate, said the uproar over the Super Bowl exhibition will have repercussions long after the Grammys ) "All night it will remind Grammy viewers, who are an antiestablishment lot, that this is not really their party," said Tom O'Neil, author of "The Grammys" who runs the awards handicapping Web site Goldderby He already did it, it's enough "Now it turns into a censorship issue," said Chasez, who refused to sing the national anthem at Sunday's Pro Bowl after the National Football League yanked him from the halftime show because of his lyrics This just proves that the Grammys are really still the Grannies " Spokesmen for the awards ceremony and for the Recording Academy didn't return phone calls seeking comment Friday "When the Grammys are at their hippest and best, they reward artists for daring to be social rebels "I would imagine that this would be the most staid, surprise-free, least-lewd Grammys of all time," Marks said by phone Friday from Los Angeles He's up for five Grammys, including album of the year, and is scheduled to perform " Meanwhile, other performers continue to steadfastly support Jackson I want to see bands and music "I don't think he would be smart to apologize (Fellow R&B acts Beyonce Knowles and Pharrell Williams, and rap stars Jay-Z and OutKast, lead the nominations with six each |
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