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Richard Parsons, Ex-Time Warner CEO Who Orchestrated Sale of Warner Music, Dies at 76

Richard Parsons, one of corporate America’s most prominent Black executives who held top posts at Time Warner and Citigroup, died Thursday. He was 76.

He returned Citigroup to profitability after turmoil from the global financial crisis and helped restore Time Warner after its much-maligned acquisition by internet provider America Online. Parsons said in a statement at the time that he was already dealing with multiple myeloma when he joined the board, but “unanticipated complications have created additional new challenges.” He said his doctors advised him to cut back on his commitments to ensure recovery. Before selling the music division, Parsons had already offloaded a half-stake in Comedy Central, a share in the satellite TV company operating DirecTV, and the Atlanta Hawks and Thrashers sports teams.

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