Time Warner Agrees To Governance Changes

TIME WARNER AGREES TO GOVERNANCE CHANGES
[SOURCE: Bloomberg news, AUTHOR: David Glovin]
Time Warner Inc., the world's largest media company, won approval yesterday of a settlement of an investor lawsuit that a judge says will require the company to make changes in how it governs itself. U.S. District Judge Shirley Wohl Kram gave final approval to the settlement that requires Time Warner to designate an independent director as chair of its nominating and governance committee. Within three years, two-thirds of the company's directors will be independent, the settlement says. These and other changes "may enhance investor confidence by ensuring that the company maintains a healthy governance structure," Judge Kram said in a ruling.
http://www.washingtonpost.com/wp-dyn/content/article/2006/09/06/AR200609...
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