HKO'ed! Scandal-Plagued Chris Albrecht Dumped Before TW Shareholders Meeting

UPDATE: Toldja! Time Warner finally weighs in with the official press release not sugar-coated, eitherthat Chris Albrecht (mug shot left) has been fired as chairman/CEO of HBO:

“Time Warner Inc. today announced that the Company and Chris Albrecht have agreed that he will no longer serve as chairman and CEO of Home Box Office, effective immediately. Mr. Albrecht said: ‘With great regret, at the request of Time Warner, I have agreed to step down as chairman and CEO of Home Box Office. I take this step for the benefit of my Home Box Office colleagues, recognizing that I cannot allow my personal circumstances to distract them from the business. I’m very proud of what we have achieved together at Home Box Office, and I wish everybody there many more successes in the future.’ Time Warner Chairman and CEO Richard D. Parsons said: ‘Jeff Bewkes and I believe that this is the right decision for the Company. We thank Chris for all of his contributions to Home Box Office over the years.'”

EXCLUSIVE: I’m told today that it was Jeff Bewkes, the chairman-in-waiting of parent company Time Warner, who pressured Chris Albrecht to take the leave of absence from HBO. But now I’ve spoken to sources who say the situation has ramped up several notches because of the Los Angeles Times‘ and my own reporting about Albrecht’s past behavior with women at the cable pay channel. The result, I hear, is that Albrecht is being told to quit or be fired. This comes when Albrecht only has six months left on his contract as chairman/CEO. I can tell you that, already, the inside jockeying to succeed Albrecht has begun. “We’re reached a point where he’s toast,” an HBO insider just told me. “He has very few options left. He’s got to resign now or he’ll be fired.” I’m told Time Warner’s Bewkes wants this resolved before the annual shareholder’s meeting takes place on May 18th. (more…)

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