TURNER BACK IN TALKS ABOUT A NETWORK ... ANY NETWORK
Published February 27, 1995
Many reports over the weekend note that Ted Turner is back in discussions with the Big Three networks for a possible merger or another venture with Turner Broadcasting. Last week, Turner met with top execs from each of the major networks, NBC, CBS and ABC. And according to BLOOMBERG BUSINESS NEWS, a number of scenarios are being "bandied about." One would include the combination of Turner, NBC and some parts of TCI. One of the key reasons Turner is again speaking with the networks is that Turner Broadcasting and TCI are getting closer to settling on a price for buying Time Warner's 19.4% stake in Turner (N.Y. POST, 2/25). FOX WOES: In a development that could mean "new legal trouble" for News Corp. Chair Rupert Murdoch, a top federal regulator said that he had not known in '85 that News Corp. controlled 99% of the equity in six TV stations that Murdoch acquired to launch the Fox network. As a result, "it breathes new life into the FCC's current investigation" of Murdoch, according to Edmund Andrews of the N.Y. TIMES. The federal regulator, Roy Stewart, said he thought Murdoch, who was about to become an American citizen, was going to own the stations, not News Corp. (N.Y. TIMES, 2/25). TIME WARNER: Sunday's N.Y. TIMES reports that Time Warner Chair Gerald Levin is "campaigning hard" for shareholders' confidence so that he can avoid the fate of CEO's of other companies who have been forced from their job after the companies' stock lagged (N.Y. TIMES, 2/26). BLACK EYE AT BLACK ROCK: David Letterman on Howard Stringer leaving CBS: "Why would anybody want to leave the Titanic? I have no idea" ("Late Night," 2/24).