Home / Business / Richard Parsons Steps Down as Interim Chairman of CBS

Richard Parsons Steps Down as Interim Chairman of CBS

Several years ago, Mr. Parsons was found to have a singular form of blood cancer famous as mixed myeloma. His illness went into discount after he underwent a branch dungeon transplant. In a matter expelled by CBS, he said, “Unfortunately, amazing complications have combined additional new challenges, and my doctors have suggested that slicing behind on my stream commitments is essential to my altogether recovery.”

Mr. Parsons has a repute as a infallible dealmaker, one who could settle a many hostile of disputes. He untangled what is deliberate one of a misfortune mergers in corporate history, AOL-Time Warner, and he helped stabilize Citigroup after a 2008 recession. In 2014, he was called in to assistance rehabilitate a Los Angeles Clippers of a National Basketball Association, when their owners was barred by a joining after he done extremist comments.

Under Mr. Parsons’s leadership, a revamped CBS house had already started a hunt for a arch executive as it evaluated who could best assistance a association navigate what has turn a tough landscape for media businesses. Silicon Valley continues to take ad dollars and eyeballs divided from normal radio outlets, and party companies have had to find new ways to say aptitude with younger audiences.

In a box of CBS, it has played adult gains in a streaming effort, CBS All Access, that has over 2.5 million profitable subscribers and is on gait to strike 4 million by subsequent year, according to a company. The reward wire network Showtime, partial of CBS, has also done strides in streaming and expects to pointer adult a identical series of business in a same period. Together, a streaming businesses comment for over $500 million in annual revenue, a business line that didn’t exist only years ago.

Mr. Ianniello, who is a claimant to turn a permanent arch executive, has already done several pivotal executive appointments in a dual months he has been on a job.

Article source: https://www.nytimes.com/2018/10/21/business/richard-parsons-cbs-chairman.html