Time Warner Should Cut Costs, Shareholder Says

Time Warner Inc. Chief Executive Richard Parsons needs to keep cutting costs to boost the company’s share price, a large shareholder said.

“It’s part of the way but there’s still work to be done,” said Muneef Tarmoom, CEO of Istithmar PJSC, a fund owned by the royal family of the United Arab Emirates. Istithmar, with 2.39% of New York-based Time Warner, is among the top 10 shareholders, according to Bloomberg data.