Bob Pittman last week resigned as coo of New York City-based AOL Time Warner amid reports of combative relationships with Time Warner management and a Washington Post story that said AOL engaged in “unconventional deals” to inflate revenue. Once the golden boy of new media, Pittman had been reassigned to AOL earlier this year in hopes of pulling the company out of a downward spiral of slumping ad revenue and subscriber growth.
While the industry speculated replacements could come from another high profile dot.com, AOL Time Warner promoted from within, naming HBO cable TV chairman Jeff Bewkes to lead the entertainment and networks businesses, while Time Inc. chairman Don Logan will head up the Media and Communications Group. Bewkes and Logan will report to ceo Dick Parsons.
The move indicates that Time Warner management—which is said to have chafed at the idea of swapping stock with an online provider-is re-establishing control.
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