Microsoft Corp. is "very close" to agreeing to invest at
least $1B in Turner Broadcasting, according to Porter Bibb, a
Wall Street analyst and Ted Turner biographer cited in today's
ATLANTA CONSTITUTION. Bibb: "The basic concept of an equity
investment has already been agreed on. ... Part of the delay is
that this is Hell Week for [Microsoft Chair] Bill Gates,
launching Windows 95." In return for its investment, Microsoft
could use Turner-owned content on its new online service, The
Microsoft Network. While Turner could use the cash for a run at
CBS, Merrill Lynch's Jessica Reif notes, "A billion doesn't do
the trick. It gets him halfway there" (Kloer & Unger, ATLANTA
CONSTITUTION, 8/24). The N.Y. POST reports Turner has approached
NBC execs to discuss a possible deal (Greg Clarkin, N.Y. POST,
8/24).
DISNEY ONLINE: Walt Disney Co. has formed Disney Online,
which will try to create a presence on the World Wide Web by the
end of '95. Disney appointed Jake Weinbaum, who formerly headed
Disney's magazine group, to head the new service (Joe Kilsheimer,
ORLANDO SENTINEL, 8/24).
