Merv Adelson, the co-founder of Lorimar Television and a former vice chairman of Time Warner Inc., is now serving as an "executive advisor" to Warner Bros., the Los Angeles Times reports.
The colorful Adelson–who was once married to Barbara Walters but wanted the paper to make sure to note that he is now single—will advise Warner Bros. on new-media start-ups.
The 80-year-old told The Times that he had been approached about the gig by Time Warner Chief Executive Jeff Bewkes.
What short memories people have. No one remembers that Merv single-handedly destroyed Lorimar, the company he co-founded, by trying to satisfy his ego-driven desire to become a Major Movie Mogul when neither he nor the people around him had any successful experience in that area of the business. He burned through $300 million in less than two years with a movie division led by a disgraced former porn star (who’d been fired by Columbia) and then by Bernie Brillstein, who arrived too late to save it. He bankrupted the company and drove it into WB’s arms at fire sale prices, in the process driving a more or less permanent wedge between himself and his former partner, Lee Rich, who always was the brains in the outfit.
Interesting.
Hey to the so called “someone who was there.” I cannot more agree with you on this clown. What a joke. Why would anyone that knows Merv Adelson for what he truly is want him to work for a major corporation. This guy has screwed more people in Hollywood for money and it is a shame and a joke that Jeff Bewkes would waste any money or time with this guy. Glad I don’t own any Time Warner stock cause this would be a major case to sell it immediately. And truly what does a 80 year old guy know about anything new. Make sure he doesn’t get near anyone in accounting to shake their hand because this crook will snatch off your ring. Must have pictures on Jeff somewhere. What a corporate disgrace for Time Warner.
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