AOL-Time Warner Chairman Parsons; Buys
"Fiaschetteria" and Gives Marketing Advise
to
The ANNOTICO Report
Richard Parsons, Chairman and CEO of AOL-Time Warner ( the American media giant, that controls Warner Bros, HBO, CNN, Time Inc., New Line Cinema, and AOL), one of the most potent and feared managers in the world, but usually reluctant to talk to the media, in this Exclusive Interview with WineNews tells how he fell in love with Italy, and how he came to purchase the historic vineyard and winery of "Fiaschetteria" in Montalcino.
Parson notes that the American market is divided into two levels: the
premium market; the high end in which Italians compete with the
French, and Parson believes that
In the mass market; the lower end in which Italians have very aggressive competitors like the Australians and Americans,
Parsons gives advice on how
Wine News
Montalcino -
31 Maggio 2006
At first glance, Richard
Parsons, seated at one of the tables in the historic "Fiaschetteria"
of Montalcino, appears to be just another one of the
countless tourists who pass through the capital of Brunello,
enamored with
Instead, this tall and smiling sixty-year-old
African-American, who is casually dressed in jeans and a baseball cap, is one
of the most potent and feared managers in the world. Parsons is Chairman and Ceo of AOL Time Warner, the American media giant,
controlled by Warner Bros, HBO, Cnn, Time Inc., New
Line Cinema, and AOL.
And he chose Montalcino
as the location to buy property. Together with his friend and associate, the
Swiss manager Mario Bollag, they acquired Il Palazzone, an estate that includes 3 hectares of vineyards
producing 4,000 bottles per year.
Parsons does not take too kindly to journalists
and the media (professional saturation), but during his latest trip to
It is interesting to think that a businessman
from New York, who has the financial possibilities to invest in properties in
the most famous wine territories in the world (from France to California, South
Africa and Australia) would choose as his "getaway" a little known
estate, in a distant corner of Tuscany.
Why exactly Montalcino,
Mr. Parsons?
In the first place because I really love
What relationship do you have with wine?
I love it, and my favorite wines in absolute are Italian reds. And among these,
my favorite is Brunello. That's why I bought this
estate in Montalcino with the motto
We drink all we can and then sell the rest! I began to get to know and
appreciate wine thanks to the teachings of an exceptional maestro who I worked
for, Nelson Rockefeller. He, who was also obviously my professional mentor,
loved French wines in particular, above all
And what wines do you have in your personal
cellar in
Many Italians: besides Brunello I adore Super
Tuscans, above all Sassicaia and Solaia,
which I consider exceptional. But I also appreciate Chianti Classico
and Cannonau di Sardegna,
while my wife Laura loves, above all, Amarone. Among
American wines I prefer Cabernet.
When in the
Absolutely. For someone like me, who lives and works
in the chaos of New York, spending a few days immersed in silence, surrounded
by these splendid hills, it is a dream. I come to Montalcino
at least once a year, and always for the grape harvest, which I follow
personally. It really relaxes me.
We know that a part of your wine goes to
friends. Can you tell us which famous personalities you?ve given your wine to?
Among the many who I could name are Quincy Jones, Bono of U2, Naomi Campbell,
Vice President Dick Cheney, as well as many members of Congress in
Do you think there is a limit, even mental,
to the price of wines?
No, I don't think so. Wine is like art, it is a market that makes the prices,
which sometimes reach stratospheric levels. And, like art, wine is also
considered by many an object to collect. I, instead, prefer to drink it.
You are an expert in communications: through
your group you manage television, cinema, publishing, music, internet.
In your opinion, what image does Italian wine have in the rest of the world?
I think Italian wine is still passing through a transitional phase: in the
1970's its image was connected to quantity more than quality, wine in jugs was
still being bought. In the 80s and 90s the expansion phase began, thanks in
part to the notoriety of some names like Brunello,
Barolo, and Barbaresco - not forgetting the most
famous Super Tuscans - that contributed to raising and further promoting
the image of Italian wines around the world. Now, however, it is very important
to get it better known in other countries, even the lesser known labels, and in
particular in the
And, according to you, what are the best
tools to use and actions to be taken to promote wine in the
Italians must understand that the American market is divided into two levels:
the premium market; the high end in which Italians compete with the French, and
the mass market; the lower end in which Italians have very aggressive
competitors like the Australians and Americans. On the high end market Italians
are moving very well, thanks in part to the success of Italian style in the
Instead, on the lower level
market, the question gets complicated. Here the price factor counts, but above
all the brand promotion. In recent years the Australians are doing huge
publicity campaigns. I cite the example of the Yellow Tail label, which invests
more in communications alone than all Italian wine companies put together. In
this segment it is fundamental to move with publicity in magazines and
television and above all with direct action towards consumers, billboards and
brochures, as well as promotion in supermarkets. From this point of view
You must keep in mind that the average
Italian company is very small and, therefore, it does not have the economic
resources for such great investments.
Then the small producers must join forces and make mass: there is no other way to
conquer a market that is as big as that of the
What do you think of emerging countries like
I think that at both a consumer level, and a production level, it still needs
time. Only in the big cities like
Are there new projects in sight for your
estate?
Yes, in February 2007 we will launch a new wine, a big Super Tuscan, which has
been created through a collaboration between Il Palazzone and Tenuta Terra al
Sole, with my friend and associate Mario Bollag. It
will be a Cabernet Franc and Sangiovese variety
called "Lorenzo e Isabella", after the names of my parents. 13,000
bottles will be produced, half destined for the
And we are ready to bet that this latest
endeavor by "Mr. Time Warner" will soon end up in the wine glasses of
vip's.
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