Former Time Warner Chairman Richard Parsons Passes Away at Age 76

Richard Parsons, the former Time Warner chairman who was known for stabilizing troubled organizations such as CBS Corp., Citigroup, and the Los Angeles Clippers, has passed away at the age of 76. He succumbed to bone cancer at his Manhattan home, after battling multiple myeloma over the years.

Parsons briefly served as the interim chairman of CBS in 2018 following Leslie Moonves’ resignation due to sexual harassment allegations. Despite his short tenure, Parsons played a crucial role in negotiating Moonves’ exit and appointing a new acting CEO.

Throughout his career, Parsons was a prominent figure in the media industry, being one of the highest-ranking African Americans in any media company. Despite his achievements, Parsons remained humble and encouraged young African Americans to pursue opportunities in a more inclusive society.

Known for his leadership skills and competitive nature, Parsons took over as chairman and CEO of AOL Time Warner during a tumultuous period for the company. He faced challenges following the infamous merger of AOL with Time Warner, which led to significant financial losses.

Despite the setbacks, Parsons managed to stabilize the company by selling off assets and restoring its former name, Time Warner. His steady leadership and focus on stability earned him praise for restoring the brand’s reputation.

Outside of his corporate endeavors, Parsons was involved in various philanthropic activities and political engagements. He was a strong advocate for education opportunities for the disadvantaged and served on several nonprofit boards.

In his personal life, Parsons was survived by his wife, children, and a daughter from a previous relationship. His legacy in the media industry and his contributions to various social causes will be remembered for years to come.



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