WOLF BLITZER, CNN ANCHOR: We now have some breaking news about our own parent company, AOL Time Warner. It has announced a replacement for CEO Steve Case. He's the chairman who submitted his resignation this week. CNN's Mary Snow is live in New York. She's joining us with details -- Mary.</s>MARY SNOW, CNN CORRESPONDENT: Well, Wolf, the board members just leaving now, sources telling CNN that the board has unanimously elected Dick Parsons, the CEO of AOL Time Warner, the parent of this network, as both chairman and CEO. It was unclear going into this meeting today whether or not there would be a decision. The meeting began around 12:00 noon. It is just breaking up. We're waiting for Mr. Parsons to come down, perhaps to talk to him live when he does come down but this news just coming out. One of our producers caught up with Ted Turner who just said, "The decision was unanimous, wasn't it ?" when he was asked about his support for Dick Parsons. So that's the very latest -- Wolf.</s>BLITZER: We'll be waiting to hear from Mr. Parsons himself. Mary Snow reporting, breaking the story for us, a new leader of AOL Time Warner, the parent of CNN. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Richard Parsons Named Chmn., CEO of AOL Time Warner