Thinking Like a Journalist

By NORMAN PEARLSTINE, EDITOR-IN-CHIEF

Gerald M. Levin officially stepped down as CEO of AOL Time Warner last week, bringing to a close a remarkable business career. For the past 10 years he has sat atop a media empire whose vast holdings include Time Inc., publisher of scores of magazines, including TIME. There has been plenty written about Jerry's business career in these pages and elsewhere. But inside the Time & Life Building, he will be best remembered as a fierce advocate for the editorial excellence and journalistic integrity of our publications.

When Time and Warner merged back in 1989, skeptics wondered whether the House of Luce would succumb to new corporate pressures and lose its edge as a credible and independent source of information. They wondered anew a year ago, when Time Warner and AOL completed their media megamerger.

In both cases the fears proved unfounded. Jerry's intellectual and emotional commitment to editorial independence has played a huge role in ensuring that Time Inc. retains its position as the world's most trustworthy media company. Jerry has energetically backed the company's unique statement on editorial independence, approved by the board, that supports our work as journalists. In sum, it asserts that the financial success of this company's publications is "inextricably linked to their credibility" and calls for the magazines to provide unbiased coverage not only of our advertisers and customers but, no less important, of ourselves. Readers of Time Inc.'s publications are well aware that we have consistently produced tough articles about our businesses and our colleagues within AOL Time Warner. Jerry has been our biggest defender.

In recognition of Jerry's support and encouragement, I had the pleasure in March to present him with the Henry R. Luce Lifetime Achievement Award. It is Time Inc.'s most prestigious editorial prize and honors the legacy of company founder Luce, who wanted Time Inc. to serve the public interest as well as the interests of shareholders.

Jerry's love of journalism and consistent defense of its highest principles have made him the best associate any editor could have. As I said at the time, "Although not a journalist, in his 30 years here Jerry has thought like one, and acted like one." We will miss Jerry as a friend and a colleague, and vow to uphold the principles he holds dear. We wish him the best in his next adventures.

Norman Pearlstine, Editor-in-Chief