"Wayne H. Pace" was the chief financial officer and executive vice president of Time Warner/Time Warner Inc.. He has served as CFO from 2001 until 2007. [http://people.forbes.com/profile/wayne-h-pace/115954]

He attended Austin Peay State University where he graduated with a bachelor's degree in accounting and economics and he received a Master of Business Administration from the University of Georgia.

In 2006, Pace was involved in a prostitute scandal in New York City. He was cleared by his employer, Time Warner, of any wrongdoing by using company funds for the prostitute.

More Wayne Pace on Wikipedia.

We expect to see advertising revenue slow in the second half of the year.

We expect to see strong fourth-quarter performance across all of our businesses except America Online.

A business that has long-term growth prospects.

He wants it to be profitable growth, sustainable growth and responsible growth.

I like the position we're in within the context of the overall industry.

It's an increasing problem since the price of gas went up.

This transaction marks another important step in our strategy to improve our financial ratios and increase our financial flexibility.