Turner Expected To Stay at AOL

Ted Turner, who was expected to step down as vice-chairman of AOL Time Warner Inc. at the end of the year, probably will renew his contract, company sources said.

The cable mogul, who is one of the largest shareholders of the company, has been at odds with AOL chief Gerald Levin, who demoted Turner from an operating role as part of a management restructuring after the merger of Time Warner and AOL in January.

Turner took a series of public potshots at Levin in late November at a cable convention in Anaheim. Last week, Levin surprised the media industry with his plans to retire in May.

Levin will be succeeded by his longtime deputy, Richard Parsons, who is known for keeping peace within AOL Time Warner. Parsons, who remained close to Turner even as relations with Levin frayed, told Electronic Media he was “going to be reaching out” to Turner, who remains on the board. In the Monday article, Parsons predicted that Turner would renew his contract as vice-chairman.