TURNER-TIME WARNER DEAL TO BE ANNOUNCED TODAY?
Published September 22, 1995
The long-awaited merger announcement between Turner Broadcasting and Time Warner could be made in New York today. It is possible that TBS Chair Ted Turner and Time Warner Chair Gerald Levin could discuss the deal on CNN's "Larry King Live" tonight (Shapiro & Sharpe, WALL STREET JOURNAL, 9/22). Analysts note that Time Warner's WB Network would have an instant "pipeline" of news, and possibly sports, programming from TBS cable holdings (Greg Clarkin, N.Y. POST, 9/22). Unlike in previous drafts of the deal, Time Warner's HBO is not expected to move out of New York and be operated under Turner in Atlanta. The change was apparently made to "appease" US West, which holds a stake in Time Warner Entertainment (Haddad & Unger, ATLANTA CONSTITUTION, 9/22). Also, as one of the concessions to TCI Chair John Malone, a 21% shareholder in TBS, Time Warner will sell Malone the remaining 44% stake in SportSouth, a regional sports network co-owned by Turner and Malone's Liberty Media (Sallie Hofmeister, L.A. TIMES, 9/22).