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Parsons pledges action

Thursday, Aug. 18, 2005 | 9:33 a.m.

Time Warner Inc. said Chief Executive Richard Parsons met Wednesday with dissident shareholder Carl Icahn and pledged to move "as aggressively as appropriate" to bolster the company's stock price.

At a 50-minute face-to-face meeting Wednesday, Icahn and Parsons had a "frank and open exchange of views," said Ed Adler, a spokesman for New York-based Time Warner, the world's largest media company. He declined to elaborate.

Parsons agreed to talk with Icahn after the financier disclosed this week that he is leading a group that amassed a $2.2 billion stake in the company. The group is demanding a $20 billion share buyback and spinoff of the cable-television business.

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