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July 20, 1996|Times Staff and Wire Reports

FTC Moves Forward on Time Warner-Turner Deal: The Federal Trade Commission directed its staff to write a final version of an agreement that will let Time Warner Inc. buy Turner Broadcasting System Inc. as long as the two abide by competitive safeguards. The agreement is to be presented to the five-member commission in three weeks. A tentative agreement reached this week ended months of talks on the stock-swap deal valued at $7.5 billion when it was announced in September. If a majority of FTC commissioners accept the final agreement, it will then be subject to public comment and a commission vote before it can become final.

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