|
BURBANK, Calif. (AP) - Shareholders of media conglomerate Time Warner Inc. overwhelmingly approved two proposals Friday to give them more say in the company's affairs. The proposals, one to make it easier for a simple majority of shareholders to pass changes to the company's bylaws, and another to allow larger shareholders to call special board meetings, were opposed by the company. It is not required to institute the proposed changes.
The company's annual shareholder's meeting, held at Warner Bros. Studio, was fairly routine. The company's stock has been rebounding after several dismal years stemming from the company's decision to be bought by AOL in 2000.
That fact was noted by one shareholder, who complained that since Chairman and Chief Executive Richard Parsons took the helm in 2002, shareholder return has been 13.6 percent, including dividends, underperforming the stock market and other media companies, such as News Corp. and The Walt Disney Co.
|
|