[Time Warner CEO Jeff] Bewkes is 62 and, in effect, wrapping up his tenure at the company. It is a company he has transformed, but he has not made it bigger and greater — rather, smaller, more discrete, more niche. Gone are its cable assets, AOL and Time, Inc. magazines. He’s reduced its ambitions. He is almost proudly the opposite of a visionary. One would be hard pressed to say what else he can do with the company. In a sense, he’s prepared Time Warner for sale.
Before Bewkes took over, Time Warner owned Time Warner Cable, AOL, and Time Inc. He broke the company up, spinning out all of those businesses into their own public companies, streamlining Time Warner to make it a lean, TV and movie-making machine.
This has led to Time Warner’s almost doubling since he took over as CEO. However, as Wolff notes, there’s a question of what’s next. It seems like Rupert Murdoch has the answer.