Major shakeups at Time Warner

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Two major shakeups struck inside the Time Warner empire today. Michael Fuchs is stepping down as chairman of both Home Box Office and Warner Music Group. Fuchs was seen as an internal rival to Time Warner CEO Gerald Levine. As part of the restructuring, the company's entertainment business--including the music and movie studios--will be combined into one entertainment unit. Robert Daly and Terry Semel will be chairmen and co-CEOs of both businesses.

A second explosion hit inside the publishing wing of the company. In those moves, Robert Miller was out as president of the Los Angeles-based Time Inc. Ventures, which oversaw all the regional, special interest and overseas publishing ventures. TIV is being eliminated and the functions will be absorbed directly by the New York headquarters. Norman Pearlstine, the editor-in-chief of Time Inc., sees his role expanded as he takes on business responsibility internationally. Two new managing editors were also named.

Jim Gaines, managing editor of flagship Time, moves upstairs to a new role as corporate editor, reporting to Pearlstine. He is being replaced by Walter Isaacson, most recently editor of new media for the company.

At Sports Illustrated, Mark Mulvoy, who had announced his intention to step down as managing editor after the Olympics, will become editor of SI but will relinquish the managing editor title to Bill Colson, who was assistant managing editor on the title.

Paul Sagan, founder of the cable channel New York One, becomes president and editor of new media at Time Inc.

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