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NBC, TURNER STILL TALKING, NOT WALKING
Published December 19, 1994
NBC President Robert Wright told the board of parent company GE yesterday that the network is continuing to explore a merger with Turner Broadcasting, "but GE appears no closer than ever to a sale of the television network." Wright told the board there are "synergies" between the two broadcast giants, particularly in the news area. The meeting only "briefly" touched on the status of the Turner situation (BLOOMBERG BUSINESS NEWS/NEW YORK POST, 12/19). GE AUTHORIZES STOCK BUYBACK: General Electric's board announced that it would buy back up to $5B of its own shares after increasing its quarterly stock dividend by 14%. The dividend had been expected, as GE has increased its dividend every year since 1975 (Diana Henriques, N.Y. TIMES, 12/19). GE Chair John Welch said the "strong outlook" for the company's holdings as well as a high level of "cash generation" were behind the move (William Carley, WALL STREET JOURNAL, 12/19).