It’s totally cute. Yesterday Time Warner CEO Dick Parson’s was all over Carl Icahn, crediting the high profile investor with helping Time Warner get in touch with their shareholders and convincing the company to increase its share buyback plan.
Reuters reports on Parson's comments at the Reuters Media Summit:
"When someone accumulates even 3 or 4 percent of your stock and starts making the kind of noises Carl was making, it causes you to get in touch with your other shareholders," said Parsons. "There was a sense that you could use more of your capacity to buy back the stock."
Parsons said he's not worried about another assault by Icahn. "Someone asked me if he is happy. I'm not sure if that's a word I would use. I'm sure he is happier."
Icahn, for his part, said he is happy, now that Time Warner stock has risen over the past several months.
"I'm happy concerning Time Warner," said Icahn in a phone interview on Tuesday. "The hedge fund make over $200 million and to me, that's a lot better than having a debilitating proxy fight."
"Dick kept the promises he made to me and that makes me happy," Icahn added. "He promised to cut expenses and do a huge buyback.
"We helped facilitate some of those changes. I think some of those things would not have happened to the extent that they did if we hadn't been around," said Icahn, adding that he "got some criticism for backing off" and dropping the campaign for a full breakup.