Time Warner’s Richard Parsons isn’t closing any doors when he addresses speculation that he might seek a political career when his contract as chief executive of the world’s biggest media company expires in 2008.

“Why would I rule anything out?” he said at the Reuters Media Summit in New York. “I dont know how these things start. But once they start you seemingly cant get them back in the bottle.”

“This has been either my fate or my challenge for 30 years ever since I got out of government. Everybodys speculating hes just hanging around, waiting for his moment,” Parsons added. “Currently I dont have any plans to do that. My focus is really on completing the journey with Time Warner.”

He’s currently on New York Governor-elect Eliot Spitzer’s transition committee. Half a lifetime ago, Parsons served as counsel for New York Gov. Nelson Rockefeller and as a senior White House aide under President Gerald Ford.

“I’ve been on everybody’s transition committee — Giuliani, Bloomberg, Spitzer,” Parsons said. Turning to some of his staff members, he joked: “Who else has run for something?”

Parsons, who has been mentioned as a possible New York City mayoral candidate, has a simple explanation for his involvement on the committees: “It’s one way to avoid getting nailed.”