GERALD M. LEVIN ELECTED CHAIRMAN OF TIME WARNER INC.
NEW YORK, Jan. 21 /PRNewswire/ -- The Time Warner board of directors today elected Gerald M. Levin as chairman of Time Warner Inc. (NYSE: TWX). Mr. Levin continues as chief executive officer and president of Time Warner. Mr. Levin became CEO of Time Warner in December 1992 upon the passing of Steven J. Ross. He was named president and co-chief executive officer of Time Warner Inc. in February 1992. From May 1991, he had been chief operating officer and vice chairman of Time Warner Inc. He became vice chairman of Time Warner Inc. when Time Inc. merged with Warner Communications Inc. in 1990. Previously, Levin was elected to the Board of Directors and named vice chairman of Time Inc. on July 21, 1988. In that position he had been responsible for examining alternative strategies for all the company's businesses and for a wide range of corporate activities. Levin joined Time Inc. in 1972 when Home Box Office, Inc. (HBO), the company's paycable subsidiary, was in its developmental phase. He served as HBO's vice president of programming, was named its president and chief executive officer in March 1973 and was promoted to chairman in May 1976. In August 1979 he was appointed Time Inc. group vice president-video, overseeing cable operations at American Television and Communications Corporation (ATC) as well as HBO and other video interests. He became Time Inc.'s chief strategist when he was named an executive vice president of Time Inc. in March 1984, a title he held until his election as vice chairman. Levin was elected a vice president of Time Inc. in October 1975, and was a member of the Time Inc. Board of Directors from July 1983 to January 1987. He is a member of the Whittle Communications Partnership Board and the board of Turner Broadcasting Systems, Inc. (TBS). He is a member of thd? and treasurer of the New York Philharmonic; first vice president of the International Radio & Television Society, Inc.; member of the board and secretary/treasurer of The National Council for Families and Television; member of the board of the Center for Communication, member of the board of trustees of Hampshire College; chairman of the board of Haverford College, and a member of the Corporate Governance Task Force of the Business Roundtable. Levin received the National Distinguished Achievement Award of the American Jewish Committee in October 1984. He also received an honorary LL.D. degree from Texas College in Tyler, Texas, on May 20, 1985. A Phi Beta Kappa graduate of Haverford College in 1960, Levin received a legal degree from the University of Pennsylvania Law School in 1963, where he was note editor of the Law Review. Levin was an attorney for four years (1963-1967) with the New York City firm of Simpson Thacher & Bartlett. He was affiliated for four years (1967-1971) with Development and Resources Corporation, an international investment and management company, where he became general manager and chief operating officer in 1969. Following the acquisition of Development and Resources Corporation in 1971 by International Basic Economy Corporation (IBEC), he served for a year as IBEC representative in Tehran, Iran. He is a native of Philadelphia and was born on May 6, 1939. Time Warner Inc. is the world's leading media and entertainment company, with interests in magazine and book publishing, recorded music and music publishing, filmed entertainment, cable television and cable television programming. -0- 1/21/93 /CONTACT: Edward Adler of Time Warner, 212-484-6630/ (TWX)
CO: Time Warner Inc. ST: New York IN: ENT SU: PER
SH -- NY063 -- 7518 01/21/93 14:48 EST
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|Date:||Jan 21, 1993|
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