Team Bewkes already being assembled

The signs are getting stronger by the week that the Bewkes era at Time Warner is nearing. It is widely expected (DUH!) that the Time Warner board will announce Jeff Bewkes as CEO elect in the coming weeks putting to rest the obvious. But Jeff won't sit around and wait for that day to come. He, along with the help of current Time Warner big bear Dick Parsons may have already found Time Warner's next money man to replace the outgoing brothel regular and current Time Warner money man Wayne Pace. It is widely expected that Parsons and Bewkes will tap Time Warner Cable CFO John Martin to be the new Wayne Pace sans the regular brothel visits. Why John Martin? Word is, he knows how to talk that Wall Street talk and make spin offs work. He joined Time Warner Cable in 2005, before Time Warner Inc's 16 percent stake was spun off. Martin's skills in mergers and acquisitions and strategic planning could come in handy if Time Warner Inc decides to sell a bigger portion of the cable company. Time Warner close to naming Martin as CFO [Reuters]

Speculations about a Bewkes lead Time Warner getting stronger and stronger

CFO Wayne Pace will have more time on his hands for his other interests! At the world's biggest media company, what has come to be known as the Bewkes era is almost here and many are wondering what Time Warner will look like under the CEOing of Jeff Bewkes. Some believe he will continue to carry out current CEO Dick Parsons' vision while others believe he is just playing nice guy for now until Parsons' steps off and will seek to break up the behemoth. So far one almost definite thing is that Bewkes will not opt for a second in command. This could be a sign of a hands-on style management or a sign that Bewkes wants to make the first and final call on all things across the company. There is also word that the company is already looking for a new money man to replace current CFO Wayne Pace, who is getting into retirement mode. Bottom line, only Jeff Bewkes knows what the hell Jeff Bewkes will do with Time Warner when he becomes CEO. Then again we forgot to mention the few who thinks he shouldn't be CEO.

Front Pages: Another sex bust, but this time without Time Warner CFO Wayne Pace

-Shomari Hines The New York Daily News and Post are both on the same page this morning, going big and bold on the latest madam story to break. So far no high profile individuals are caught up in this one like the much talked about mid town madam who counted Time Warner CFO Wayne Pace as a top client.

Has Time Warner CFO Wayne Pace been a good boy since his high priced hooker bust?

We have no idea what the answer is to the title of this post. But we wanted to revisit the whole Wayne Pace midtown madam bust. Make no mistake about it. Wayne Pace isn't the only media big dawg who pays top dollar for high priced chooche, he was just stupid enough to get caught and outed. When the whole thing blew up we were sure Time Warner boss Dick Parsons not wanting the bad publicity for the company would have canned him, but to our surprise this didn't happen. Over the months we have wondered however if Mr. Pace has been behaving himself or if he isn't, Is he being a bad old man out of state? This may be a huge order but is there anyone out there who can confirm or speculate that Wayne "Pimp Daddy" Pace has been keeping his zipper up or down? Are you a Time Warner employee holding a certain rank and you would love to spill the beans on Mr. Pace or anyone else in the upper echelons of Time Warner. Then go for a gig break dammit and text us from your cell or something, even if it has nothing to do with Wayne Pace's hooker loving ways. Maybe you know what Dick and Jeff had for lunch today or something. tellus@mediawiredaily.com

Weekend Wire: Because media news happens on the weekends too

We felt like we've been missing out on some real interesting items during the weekends and so beginning today, we will post this, our "Weekend Wire" to round up all the latest media news that the weekend may spit at us. And we thought we would never see another article about the whole Google Youtube thing again. The New York Times attempts to explain how this loopy deal makes sense [NYT] Meet the man who keeps greedy executives wanting more and getting more [NYT] North Korean's ambassador to the U.N Council: "That's Gangsta" [CNN] Movie studio bosses getting cut out by the people actually putting up the green for the movies [NYT] This didn't develop over the weekend but former New York Daily News gossip columnist, Lloyd Grove stupidly took a guess editing offer from Nick Denton to Gawk for a day [Daily Intel] Madonna reportedly chose her new kid in the same manner in which she chooses a new hand bag, but just a second or two longer [Sunday Times] Sure! Now is the best time for the big media companies to go after Youtube over copyright issues because their new daddies have loads of cash [Bloggingstocks/Google] Whatever happened to the whole thing with Time Warner CFO Wayne Pace and that high priced slut? Time Warner must have paid someone off to make this one go away [Here] Corporate thug Carl Icahn made some extra green from of all things Time Warner stock. You think the man would be happy, but he still says he expects the media giant to break itself up into four companies. [NYP]

Its off to Camp Allen for some media moguls looking to be seen and/or cook up the following week's media headlines

Its that time of year again where overpaid media moguls gas up the company jet and head to Sun Valley, Idaho with their overly spoiled families to rub elbows with their new media and old media counterparts in hopes of landing deals. LA Weekly's Nikki Finke managed to got her sticky little fingers on the speaker schedule and it reads like it always does with the whose who of media. The crowd who will surely get the most attention this year are the new media execs who all the old media guys want to either buy or do big business with. No word on whether Rupert Murdoch will show up with Myspace's Tom and Chris, but that would be the show stealer we think. One person who should be present is CBS's Les Moonves. He is looking to get his foot in the movie business so it would be in his best interest to shake some hands and kiss some ass to bring in some partners on his idea. Tom Freston should stay clear of the Myspace guys because he may feel obligated to explain to them why he couldn't fight harder to buy them and had to settle for xfire.com instead. Time Warner CFO Wayne Pace will be a no show for one reason, Andrea Schwartz. read...

Wayne Pace's only wish, is for this story to go away once and for all. Our wish, is that this story gets juicier and juicier

Can you imagine trying to put something behind you, but every morning you wake up its still in your face no matter what? Well we are sure this is what Time Warner CFO Wayne Pace is going through right now because this madam story just keeps going and going even if it touches on things we could care less about like her 12 year old son who lives all the way in Brazil is said to be taking his mom's revealed whoredom very hard. And now quotes from grandmother Elza Dias: "He's suffering a lot with this story" "The father takes really good care of him" "Andreia is super loving - very affectionate as a mom. Every time she sees her son, she spends all the time possible with him," she said. "When she comes, she brings presents for him." Ok so all the above quotes, mainly the last one is good and dandy but what does her doing her job as a mom have to do with the fact that she sold ass for a living? read...

Midtown Media madam spilling the beans

This story just gets better and more sleezy everyday. The midtown madam whose high spending clients included Time Warner CFO Wayne H. Pace is being held in jail with bail set at $500, 000 and according to witnesses, "Jail does not agree with her". So with that said the madam is said to be spilling the beans and naming names. Could Time Warner CFO Wayne Pace get pulled further down into the black hole of whoredom? Could other media execs get outed when the smoke settles? Well if this is the case, we can only imagine the steps they may be taking to clean up any bad press that may follow. Now, like we said before, though Wayne Pace's personal enjoyments are well..........his personal enjoyments, he was outed. So now it’s not just his business anymore. On top of that, Time Warner investors and board members may think that their CFO being tied up in a brothel scandal may not be good for the media giant's image and may ask for him to step down which we strongly believe is imminent. Don't be fooled by your local media exec's image. Hey they're human too you know, it's just that some of them aren't as smart as they appear to be, well maybe on those damn earning calls. Let this be a lesson to the media circle, never play close to home because it will come back to bite you in the ass.

Wayne Pace, the madam, her husband and her mother

Any minute now we should see a press release from TimeWarner announcing the sudden resignation of CFO Wayne Pace. This story just keeps getting bigger and better. Now the alleged husband of the "Midtown Madam" is coming to her defense saying that his wife is innocent. Her mom is also coming to her defense....Naturally. We are sure mommy got some perks from her daughter's big bucks sex ring though. From today's Daily News: The devoted young husband of a Brazilian bombshell accused of running a million-dollar call-girl ring from her midtown apartment declared yesterday: "I love my wife, and I'm standing by her." Love-struck Forrest Cannon, 28, said he believes Andreia Schwartz is innocent - and wants to get her out of jail so she can join him in Hong Kong, where he has a high-powered job as associate with an international finance company. read...

If TimeWarner CFO Wayne Pace has any dignity, he should step down

We are sure Time Warner CFO Wayne Pace isn't the only fat cat media exec paying for expensive sex, but so far he the only one who got caught spoiling Manhattan madam Andrea Schwartz . Yeah Time Warner may have cleared him of using company funds to pay for sex but that doesn't mean things will just go back to normal. He is now an embarrassing thorn in the company's corporate suite and that's the last thing they need because they are still trying to get over the embarrassment of allowing an internet company to buy them. "I wouldn't have kept having sex with [Pace] or any of these guys if they weren't paying me," Schwartz said in a statement unveiled yesterday during her arraignment in Manhattan Supreme Court. "I don't do guys for money anymore," she told cops. "I only do girls." Schwartz, 31, who pleaded not guilty to prostitution, selling drugs and money laundering, told cops shortly after her arrest that Pace and Voccola were helping pay her bills. "I got up to $200,000 ... from just one guy, who worked for AOL, in cash, mortgage payments, checks and other things," Schwartz said in an apparent reference to Pace. read...

Time Warner Pacing Wayne.........for now

TimeWarner has cleared Wayne Pace, it's CFO of spending TW money on whores. Pace who we thought was married and probably is, was accused of showering a whore boss with gifts and money. "We conducted a review assisted by outside advisors and found no evidence of illegal conduct by Mr. Pace or any misuse of corporate assets," Time Warner said in a statement. Wonder if Mr. Pace had late night romps with prostitutes on Dick Parsons' desk just for the thrill of it? Anyway he should be gone before the end of the year. Its just not good for the company. read...