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Time Warner Inc. said Monday that CEO Richard Parsons has bought about $500,000 in stock of the world's largest media company. Parsons on Friday purchased stock units under TW's deferred compensation plan at $18.61 per share. TW shares, which some on Wall Street see as undervalued right now, closed down 0.7% Monday at $18.48. Over the past year, the stock has traded between $17.92 and $23.15.