At last, Time Warner's board has approved the promotion of Jeff Bewkes to be CEO. He succeeds Richard Parsons, who will remain chairman until at least next May. The company plans to report third-quarter earnings in a few days, so they might have wanted to clear the decks. There's been lots of speculation about Bewkes making big changes, such as doing something about AOL. By the way, TW is considered the least vulnerable to a lengthy WGA strike. Movie slates are pretty much set for next year, and the company doesn't own one of the major networks. (Bloomberg)