Richard Parsons, former Time Warner CEO and influential business leader, passed away on Thursday in Manhattan at age 76 due to bone cancer. This news was confirmed by his friend Ronald S. Lauder to The New York Times.

Born in Brooklyn in 1948, Parsons graduated at the top of his class from Albany Law School. His career began working with New York governor Nelson Rockefeller, which eventually led to his appointment to Time Warner's board. He became the company's president in 1995.

During his leadership at Time Warner, Parsons successfully:

• Reduced the company's substantial debt from the AOL merger
• Orchestrated strategic sales of assets including Warner Music Group and the Atlanta Hawks
• Removed "AOL" from the company name post-merger

After stepping down as CEO in 2007 and chairman in 2008, Parsons served as an advisor to:

• New York governors and mayors (Eliot Spitzer, Michael Bloomberg, Rudy Giuliani)
• President Barack Obama
• Chairman of Citigroup
• Interim CEO of the Los Angeles Clippers (2014)
• Interim chairman of CBS Corp. (2018)

His legacy extends beyond corporate leadership. Parsons played a crucial role in preserving Harlem's Apollo Theater in the 1990s through organized fundraising efforts. Even while battling multiple myeloma in recent years, he remained active in meaningful causes, co-founding the Equity Alliance to support ventures by women and people of color.

Current Warner Bros. Discovery CEO David Zaslav praised Parsons as "a great person, a great friend, and a great leader," noting his unique combination of leadership skills with integrity and kindness.

Related Articles

Previous Articles