Parsons Named as MIPCOM Personality of the Year

PARIS, July 25: Richard
Parsons, Time Warner’s chairman and CEO, has been named Personality of the
Year for MIPCOM 2006.

Parsons will receive the award on October 11 at a gala
dinner during MIPCOM, which runs from October 9 to 13. Reed MIDEM’s CEO, Paul
Zilk, said of Parsons, “Under his leadership, Time Warner informs, entertains
and connects people all over the globe through its leading brands and
programming. In an ever-evolving world defined by constant technological and
demographic change, Time Warner—with its long tradition of innovation and
creativity—continues to shape not only our industry, but the culture we
live in.”

Parsons said of receiving the honor: “I am particularly
pleased to be recognized at MIPCOM, the veritable hub of the worldwide
television market, which gathers industry leaders together from across the
globe. This award is a testament to the more than 85,000 Time Warner employees
who are the creative source for all that we do. I dedicate it to them and to
the hundreds of millions of people around the world who continue to inspire us
to provide the best in entertainment and information in these rapidly changing
times.”

Previous recipients of the Award include Gustavo
Cisneros, the chairman and CEO of Cisneros Group of Companies; Gerhard
Zeiler, RTL Group’s CEO; Peter
Chernin, the president and COO of News Corporation and chairman and CEO of
The Fox Group; Tom
Freston, the president and CEO of Viacom; Sumner
Redstone, the executive chairman of Viacom; and CNN founder Ted
Turner.