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August 19, 2005

The one-hour chat that might have saved Time Warner

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Posted by Dominic Basulto

Reports are trickling in now about the much-anticipated meeting between billionaire corporate raider Carl Icahn and Time Warner CEO Dick Parsons. The New York Post reported that the two men met for fifteen minutes, but Newsday says that the chat was closer to 50 minutes. Either way, both parties described the talks as "frank and open." The New York Times also uses the term "productive" to describe the meeting. Time Warner, obviously, doesn't want to be seen as being bullied by Icahn and his hedge fund gang, so the company only released a tersely-worded statement full of corporate gobbledygook: "The board and management are committed to moving as aggressively as appropriate on its current course to deliver long-term value for shareholders."

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