Interventionist shareholder Carl Icahn's much publicized meeting with Time Warner bosses resulted in a "frank and open exchange of views" but little else - on the face of it.

The global media giant's chairman/ceo Richard Parsons did not accede to Icahn's demands that the company buys back $20 billion (€16.27bn; £11.06bn) of its stock and spin off its entire cable TV division. Or so reports the New York Times.

But Icahn himself called the talks "productive", according to Friday's Wall Street Journal. Clearly a win-win situation!

TW spokesman Edward Adler told the assembled press pack that Parsons agreed to move the business "as aggressively as appropriate on its current course to create and deliver long-term value for all of the company's shareholders".

Or, in plain English: it will stick to its existing plan of a $5bn stock buy-back and a 15% cable spin-off.

Icahn and his associates currently hold a $2.2bn stake in TW and are frustrated by a 5.9% drop in the company's stock this year.

Data sourced from New York Times; additional content by WARC staff