Did Time Warner's Republican Chairman switch sides?

Lately Time Warner Chairman & CEO Dick Parsons has been called many things, or has came up in Google searches as many things. But one thing we're sure he is not is a Democrat, at least last we checked. However this doesn't stop the media exec from rubbing elbows with star Dems like Obama. Is Dick secretly throwing his support and money behind the Presidential hopeful or is this photo simply of two passing friends catching up?