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Since the 1990s, CEO compensation in the U.S. has outpaced corporate profits, economic growth and the average compensation of all workers. Between 1980 and 2004, Mutual Fund founder John Bogle estimates total CEO compensation grew 8.5 per cent/year compared to corporate profit growth of 2.9 per cent/year and per capita income growth of 3.1 per cent.
Case announced his resignation as chairman in January 2003, although he remained on the company's board of directors for almost three more years. [13] The failure of the AOL-Time Warner merger is the subject of a book by Nina Munk entitled Fools Rush In: Steve Case, Jerry Levin, and the Unmaking of AOL Time Warner (2005).
Time Inc. and Warner Communications were planning to merge. Time wished to get more into the television business with its HBO channel, and wanted Warner Communications's help. Then, Paramount made an offer to all the shareholders of $200 per share (up from an initial $175). Time shares had been trading at $120.
Case hasn't been directly involved with AOL for years — he left his role as CEO when AOL merged with Time Warner in 2000, and left the board of directors in 2005 — but he didn't shy away from ...
In 2002, he became chairman of Time Warner's entertainment and networks group. From 2005 to December 2007, he served as the top subordinate to Time Warner Chairman and CEO Dick Parsons . In 2008, Bewkes was selected as Parsons' successor, becoming CEO of Time Warner , and then Board Chair in 2009.
AT&T has sealed the deal to buy Time Warner in a major piece of media and technology consolidation. The deal — which is $85.4 billion and a total of $108 billion with debt — was first ...