Time Warner Gains German Board Member

9/22/2006 5:15 AM Eastern

It looks like Time Warner's board of directors is getting a German infusion.

Mathias Doepfner, now a member of the Deutsche Telekom board of directors, will resign that post after just five months to take a seat on Time Warner’s board.

Doepfner is the CEO of Axel Springer, a German publishing firm. He is resigning the Deutsche Telekom position to avoid any possible conflict of interest related to Time Warner.

All of this comes at a time when Time Warner is selling off its AOL Internet services in Europe. It announced Thursday that it was selling its AOL France unit -- and its 500,000 broadband customers -- to French telecommunications operator Neuf Cegetel for about $365 million in cash.

That follows a similar announcement earlier this month that Time Warner was selling its AOL Germany unit to Telecom Italia for about $870 million. The German Internet-service provider claims about 1.1 million broadband users.

Want to read more stories like this?
Get our Free Newsletter Here!