Richard Parsons, former Time Warner CEO and influential business leader, passed away on Thursday in Manhattan at age 76 due to bone cancer, as confirmed by his friend Ronald S. Lauder to The New York Times.

Current Warner Bros. Discovery CEO David Zaslav praised Parsons as "a great person, a great friend, and a great leader," highlighting his unique combination of leadership, integrity, and kindness.

Born in Brooklyn in 1948, Parsons graduated top of his class from Albany Law School. His career began working with New York governor Nelson Rockefeller, which led to his appointment to Time Warner's board. He became company president in 1995.

Key accomplishments during his Time Warner tenure include:

• Reducing substantial debt from the AOL merger
• Strategic sales of assets including Warner Music Group and Atlanta Hawks
• Removal of "AOL" from the company name post-merger

After stepping down as CEO in 2007 and chairman in 2008, Parsons served as:

• Advisor to prominent political figures including Barack Obama
• Chairman of Citigroup
• Interim CEO of the Los Angeles Clippers (2014)
• Interim chairman of CBS Corp. (2018)

Notably, Parsons played a crucial role in preserving Harlem's Apollo Theater through organizing successful fundraising campaigns in the 1990s. Despite battling multiple myeloma in recent years, he remained active in meaningful causes, including co-founding the Equity Alliance to support ventures by women and people of color.

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