Parson said that UK broadcasters were overpriced and he did not expect to see a stampede of American media firms rushing to buy up ITV as the government prepares to relax ownership rules.
He said that AOL Time Warner was still busy integrating businesses it had already bought and he said that AOL did not need to own a British broadcaster.
"At the current levels at which some of those assets trade, I'm not sure you are going to have a stampede in the bidding process. We are trying to digest everything we consumed in the last decade."
He also sought to reassure those who had expressed fears that US companies moving into the UK market would use it to dump cheap programming.
"It would be the fastest way to lose money -- to acquire assets and dump unsuccessful programming on them. Increasingly, what people want is quality programming that reflects their sensibilities -- local programming," he said.
He argued that the changes the government is introducing with the communications bill would ultimately benefit consumers.
"The thrust of what your government is trying to do to encourage greater competition and encourage more voices and let the market place set the pace, the more your consumers will benefit from that," he said.
Parsons effectively ruled out any international expansion until its troubled internet division America Online had been sorted out. He also ruled out any notion that AOL Time Warner plans to demerge and spin off the online unit from its TV, film and entertainment business.
"At the moment, what we're focusing on is to fix and run well what we have. When you look down the road at where the growth is going to come from, it's going to be the international sector," he said.
America Online has suffered badly at the hands of the advertising downturn. Its performance has disappointed the industry as its growth has slowed and its influence diminished. Last month, AOL Time Warner admitted that $49m (£32m) was wrongly attributed to advertising revenues for America Online, despite previous assurances that its accountancy methods were above board.
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