Jim Barksdale has registered to sell 200,000 shares of AOL Time Warner, according to documents filed with the Securities and Exchange Commission. The papers value the shares at $9 million. Barksdale, a director of the Internet and media company, had owned 6,673,334 shares of AOL Time Warner, according to the company's proxy statement.
Barksdale was president and CEO of Netscape Communications before it was acquired by America Online, now a division of AOL Time Warner. According to the proxy statement, he is the third-largest individual shareholder on the board of directors after Ted Turner, vice chairman and senior advisor of AOL Time Warner, and Steve Case, the company's chairman.