The new AOL Time Warner organization chart must look like a 50-generation family tree. America Online and Time Warner unveiled its massive management team for the merged companies Thursday.
The announcement didn't carry any big surprises, but did outline quite a pecking order at the proposed media giant. AOL Time Warner (NYSE: AOL, TWX), which will be based in New York City, also said it would create a new venture capital unit to invest in companies that are "strategically relevant to the new company's operating businesses."
The AOL Time Warner merger is expected to close in the fall. Time Warner is currently embroiled in a messy cable squabble with Disney (NYSE: DIS), and the Federal Communications Commission is involved. Analysts said they don't expect the Disney flap to put off the closing of the merger.
As announced at the time of the merger, AOL chief Steve Case is chairman of the merged AOL Time Warner. Gerald Levin, CEO of Time Warner, will be CEO of the merged company. Ted Turner, currently Time Warner's vice chairman, will become vice chairman of AOL Time Warner and function as a roaming advisor.
The companies said the new AOL Time Warner will be organized around subscription services, advertising and commerce, and content.
Bob Pittman, currently AOL's president and operating chief, will become AOL Time Warner's co-Chief Operating Officer. Pittman gets the subscription services and advertising and commerce businesses. Dick Parsons, currently Time Warner's operating chief, will join Pittman as co-Chief Operating Officer of AOL Time Warner. Parsons gets the content businesses in film, television production, music and books. As a bonus, Parsons will oversee the legal and "people development" departments. Both Parsons and Pittman and AOL Time Warner financial chief J. Michael Kelly, currently AOL's CFO, will report to Levin.
Among the managers reporting to Pittman, Barry Schuler, currently president of AOL Interactive Services, will become CEO of AOL and assume Pittman's current duties. Other execs reporting to Pittman include: Time Warner Cable CEO Joseph J. Collins, Time Inc. CEO Don Logan, Home Box Office CEO Jeffrey L. Bewkes, Turner Broadcasting System CEO Terrence F. McGuirk, and WB Television Network CEO Jamie Kellner. David M. Colburn, president of AOL Business Affairs, will become president of business development for the merged company's subscription services and advertising and commerce businesses.
Execs reporting to Parsons include: Barry M. Meyer, CEO of Warner Bros.; Robert Shaye, CEO of New Line Cinema; Roger Ames, CEO of Warner Music Group; and Laurence J. Kirshbaum, CEO of Time Warner Trade Publishing. AOL General Counsel Paul T. Cappuccio, who will become general counsel of AOL Time Warner, and Time Warner human resources chief Andrew J. Kaslow, who will become AOL Time Warner's human resources chief, will report to Parsons.
Case will oversee AOL Time Warner's investing, technology and public policy moves. The new company's VC unit will be headed by Richard J. Bressler, currently CEO of Time Warner Digital Media. Lennert J. Leader, president of AOL Investments, will become president of the VC unit and report to Bressler.
Among others reporting to Case, Kenneth J. Novack, currently AOL's vice chairman, will have the same role at AOL Time Warner and "handle special assignments" for Case and Levin. William J. Raduchel, currently AOL's technology chief, will have the same role at AOL Time Warner. George Vradenburg, who is the public policy guru for AOL, will also report to Case.
And just to keep all these managers on the same synergy page, AOL Time Warner created an executive committee, chaired by Case and Levin, to "facilitate strong collaboration" among all the business units. The executive committee includes: Parsons, Pittman, Novack, Kelly, Bressler, Raduchel, Vradenburg and Lerer. Turner and AOL board member Miles Gilburne will join in.