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BUSINESS
September 26, 1995 | SALLIE HOFMEISTER, TIMES STAFF WRITER
Just six years ago, Time Warner Inc. was celebrating a marriage: the creation of the world's largest entertainment conglomerate from the Time Inc. publishing and cable empire and Warner Communications Corp.'s studio, music and cable operations. Now the company is celebrating a new marriage that will reaffirm its position as the world leader, this time by melding Time Warner's assets with Turner Broadcasting System Inc.'s cable networks and film studios.
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BUSINESS
September 23, 1995
"I'm tired of being little all the time and I'm looking forward to having muscle on our bones." --Ted Turner * "This is far and away the dream deal." Gerald Levin, Chairman, Time Warner Inc. * "We are deply troubled by the process that guided this decision and particularly by the apparent preferential treatment afforded to one shareholder [TCI] to the detriment of all the others." Statement released by Comcast Corp. and Continental Cabelevision Inc., which have seats on the Turner board.
BUSINESS
September 23, 1995 | KAREN KAPLAN
The deal between Time Warner and Turner Broadcasting to create the largest entertainment company in the world would boost some and bruise others. A look at who has gained ground, who has lost and whose future is in doubt. WINNERS Ted Turner The TBS chief executive would parlay his cable and movie company into a 10% stake in the world's largest entertainment and media conglomerate, enriching himself--on paper--by more than half a billion dollars.
BUSINESS
September 23, 1995 | Associated Press
Turner Broadcasting System Inc.'s fate has been linked for years to the fortunes of Time Warner Inc. and other major cable TV system operators. 1970--Billboard operator Ted Turner buys an Atlanta TV station that becomes the foundation for his cable TV empire. 1976--The Atlanta TV station is distributed for the first time by satellite to homes nationwide, becoming cable TV's first superstation. 1980--Cable News Network debuts. 1982--CNN Headline News channel is launched.
BUSINESS
September 23, 1995 | MARTHA GROVES and JUBE SHIVER JR., TIMES STAFF WRITERS
Goaded by outraged consumer groups and confronted with a potentially worrisome concentration of cable ownership, federal antitrust authorities vowed Friday to scrutinize the proposed combination of Time Warner Inc. and Turner Broadcasting System Inc.
BUSINESS
September 23, 1995 | JAMES BATES and CLAUDIA ELLER, TIMES STAFF WRITERS
To attend Friday's formal news conference announcing that Time Warner Inc. plans to buy Turner Broadcasting System Inc., Alan Horn, chief executive of Turner's Castle Rock Entertainment unit, hitched a ride to New York on a Warner Bros. jet, one of Hollywood's premiere perks. "I saved $2,800 on my fare. We're already doing what we can to have synergy and to explore opportunities to save money where it makes sense," Horn deadpanned.
BUSINESS
September 23, 1995 | KAREN KAPLAN, SPECIAL TO THE TIMES
Spurred by this summer's deal mania, entertainment companies are finding a growing need to seek merger partners or form strategic alliances--but there are fewer free-standing players left from which to choose a partner. What should Hollywood's other major players do? Here's a look at possible strategies for five of the biggest: Seagram Co.: The Canadian beverage company's $5.7-billion acquisition of 80% of MCA in June signaled the first of the summer's many mega-deals.
BUSINESS
September 15, 1995 | JUBE SHIVER Jr., TIMES STAFF WRITER
Amid mounting concern that the recent wave of media mergers will dangerously diminish competition in key segments of the communications industry, the Clinton Administration is considering a variety of tactics to slow the decade-long trend toward media consolidation. It's unclear whether any of the measures now being weighed would seriously threaten Walt Disney Co.'s proposed acquisition of Capital Cities / ABC Inc., Westinghouse Electric Corp.'s bid for CBS Inc., or Time Warner Inc.'
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