TURNER, NBC BREAK OFF MERGER TALKS
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,