Just Retired Time Warner Chairman and CEO is under consideration at Commerce..Time Warner Time Warner Cable to record $15B impairment charge in 4th quarter, leading to 2008 loss

Posted by on 1/7/2009

parsonscommerceParsons to Commerce:

Former Time Warner Chairman and CEO is under consideration as possible replacement for Bill Richardson at Commerce.

Parsons, a onetime Ford White House aide and former Dime Bank executive, ran Social Security study group in Bush era.

Parsons officially left Time Warner in December 2008. He was also a member of Obama’s Transition Economic Advisory Board.

How did Time Warner do in 2008?

Time Warner Cable says it expects to record a $15 billion noncash pretax impairment charge on its cable franchise rights in the fourth quarter, resulting in a loss for 2008.

Time Warner Cable Inc., the nation’s second largest cable television operator, also expects to record an impairment charge of about $350 million on its investment in wireless broadband provider Clearwire Corp.

The New York-based company says it now expects to book a loss for 2008.


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