Icahn puts the heat on Parsons: analyst supports raider on full cable spin, too.(Carl Icahn, Richard Parsons, Time Warner Inc.)
Multichannel News, August, 2005 by Farrell, Mike
Time Warner Inc. chairman and CEO Richard Parsons met with corporate raider Carl Icahn last week. And though the meeting produced no fireworks, some analysts believe that the media giant should take Icahn's overtures seriously.
Icahn revealed Aug. 15 that he and three other hedge funds--Franklin Mutual Advisors, Jana Partners and S.A.C. Capital Advisors--have accumulated a $2.2 billion stake in Time Warner (about 2.6% of outstanding shares). That's a minuscule part of Time Warner's public float (about 4.6 billion shares), but Icahn has made a career in buying stakes in public companies and pushing for change.
WANTS $20B BUYBACK
This time, Icahn and his group want Time Warner to fully spin off its cable assets and quadruple a current...
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