Dick Parsons Buys In

The endless rumor mongering as to whether or not Time Warner will sell off AOL notwithstanding, Dick Parsons bought half a million dollars worth of his company’s own stock.

From Reuters: “Richard Parsons purchased about $500,000 worth of the company’s stock in a show of confidence in the company’s future. “Parsons purchased on Friday 26,867.27 stock units under Time Warner’s deferred compensation plan at $18.61 per share.” “Time Warner stock trades at a discount to its big media peers.”

Parsons, whose employment contract for Time Warner expires in May 2008, has been mentioned as a possible candidate for Mayor of New York.