AOL, Time Warner Name Key Executives

America Online Inc. President Bob Pittman will assume a pivotal role in the new company to be formed by the merger with Time Warner Inc., the companies said, placing him in a position to take the helm of the media powerhouse. The companies also confirmed that AOL Chief Executive Steve Case would become chairman of the combined company, to be called AOL Time Warner, and Time Warner CEO Gerald Levin would serve as chief executive. The merger is expected to be completed later this year. Pittman, who will serve as co-chief operating officer, will oversee the subscription services and advertising and commerce businesses, while Time Warner President Dick Parsons, who was appointed the other co-COO, will oversee the content businesses in film, television production, music and books. Time Warner Vice Chairman Ted Turner will be vice chairman and senior advisor. Barry Schuler, currently president of AOL Interactive Services, will succeed Pittman and become chairman and chief executive of AOL. Shares of AOL closed off 88 cents at $56.25 while Time Warner fell $1.50 to close at $83.81, both on the New York Stock Exchange.