DID TED TURNER REALLY GET TIME WARNER'S BLESSING?
In this morning's WALL STREET JOURNAL, Anita Sharpe reports
"people in the Turner camp are throwing cold water" on a report
yesterday in USA TODAY that said TBS Chair Ted Turner finally had
won the blessing of 20% TBS-owner Time Warner to bid for NBC. "In
truth," all that happened was that NBC -- which "once loathed to
meet with Mr. Turner before he worked out his differences with
Time Warner -- has simply decided there's no reason to wait
forever and has agreed to meet with him." One person in the Time
Warner camp said the media conglomerate cannot prevent Turner from
talking to anyone. Many Wall Street analysts quoted in the piece
noted that if Turner restructures TBS before making his move for
NBC, TBS's stock could rise quickly (WALL STREET JOURNAL, 10/26).
Last night "NBR's" Paul Kangas reported: "TCI Chairman John Malone
today said he will support Ted Turner's bid to buy NBC. ... Malone
said an alliance between NBC and Turner would be a perfect fit,
but Malone added he doubted that the bid would be successful"
(PBS, 10/25). TCI and Time Warner each hold 24% stakes in TBS.