Richard Parsons, a transformative figure in media and business, passed away on Thursday in Manhattan at age 76 due to bone cancer. His impact on the entertainment industry and corporate leadership spanned decades of influential work.

Born in Brooklyn in 1948, Parsons graduated at the top of his class from Albany Law School before embarking on a remarkable career that would shape modern media. After working with New York governor Nelson Rockefeller, he joined Time Warner's board and rose to become company president in 1995.

As Time Warner CEO, Parsons successfully navigated the company through challenging times, including:

• Reducing massive debt from the AOL merger
• Strategic sales of assets like Warner Music Group and the Atlanta Hawks
• Removing "AOL" from the company name post-merger

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

Beyond Time Warner, Parsons' leadership extended to multiple prestigious roles:

• Chairman of Citigroup
• Interim CEO of the Los Angeles Clippers (2014)
• Interim chairman of CBS Corp. (2018)
• Advisor to governors, mayors, and President Barack Obama

His commitment to cultural preservation was demonstrated through his crucial role in saving Harlem's Apollo Theater in the 1990s. Even while battling multiple myeloma in his later years, Parsons remained dedicated to social causes, co-founding the Equity Alliance to support ventures by women and people of color.

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