NEW YORK (CNN/Money) - AOL Time Warner's new CEO Richard Parsons said he wants former vice chairman Ted Turner back in the company.

Parsons, who assumes the top spot at the parent of CNN, CNNfn and CNN/Money.com next May 23 when CEO Gerald Levin retires, told trade magazine Electronic Media he wants the outspoken Turner's input, particularly about television.

"Ted is my man. I love Ted," Parsons said. "He knows more, particularly about the television space, which is at least a good third of this company. Ted and I have always had a wonderful relationship, and I am going to be reaching out to him, too."

Turner has faded into the background since early this year when, according to him, Levin relieved him of his duties supervising Turner Broadcasting in a press release faxed to him that named Jamie Kellner chairman and CEO of the unit, the magazine said. Kellner is the former chief of the WB network.

Turner, whose employment contract expires this month, continues as a board member and has complained about the declining value of his nearly 4 percent stake in the company due to AOL Time Warner's (AOL: Research, Estimates) falling stock price amid a slumping economy.

Parson's ascension comes as the AOL's CNN unit is paring back its payroll. CNN said Monday that it is canceling four shows: Burden of Proof, News Site, Travel Now and Show Biz This Week. The move will result in 30 job cuts.

AOL Time Warner's shares shed $1.98 to $31 Monday.