Jeff Bewkes is the crown prince of Time Warner. But next week the 54-year-old, who has been in the number two slot since January, is facing a moment that could either cement his status as heir apparent to Dick Parsons, chief executive – or cast a shadow over his future role within the company.

Next week the urbane Yale graduate will unveil a plan aimed at finally transforming Time Warner’s AOL internet business – a task no executive has achieved in the course of the companies’ troubled six-year marriage.