Deals
Bewkes Leads Time Warner Vets Who Held on Through Post-AOL Slump
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Chief Executive Officer Jeff Bewkes would reap more than $79 million in added payments with any change in control at Time Warner Inc., making him a top beneficiary among shareholders who toughed out a lost decade after 2001’s ill-fated America Online Inc. merger.
Joining Bewkes are investor Mario Gabelli and clients of Gamco Investors Inc., owners of a $350 million stake. In addition to benefiting from Time Warner’s return from the AOL mess, they’ve notched a 23 percent gain since a $75 billion takeover bid by Rupert Murdoch’s 21st Century Fox Inc. became public on July 16.