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TURNER, NBC BREAK OFF MERGER TALKS
Published January 17, 1995
The planned merger between TBS and NBC "collapsed" over issues of control over the merged operation during talks Friday. TBS Chair Ted Turner: "We couldn't agree on corporate governance -- control." Sources said NBC parent company GE wanted to maintain "at least a 51% interest" in the combined network because GE "sees great potential in the communications business." GE is not in negotiations with anyone else about a sale of NBC, but said Sunday "it still wants to find a partner to help it expand NBC" (Sharpe & Lippman, WALL STREET JOURNAL, 1/16). NBC expressed "some hope" talks could resume, but an anonymous TBS exec said "the deal is just over" (Bill Carter, N.Y. TIMES, 1/16).