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1989
- In 1989, Time Inc., publisher of Sports Illustrated, Fortune, and People magazine, agreed to merge with Warner Communications, creating a giant media conglomerate. Seven years later, the company purchased Turner Broadcasting System for $7.5 billion, acquiring CNN, TBS, Cartoon Network, and TNT.
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Turner Broadcasting System, Inc.[2] was an American television and media conglomerate founded by Ted Turner in 1965. Based in Atlanta, Georgia, it merged with Time Warner (later WarnerMedia) on October 10, 1996. As of April 2022, all of its assets are now owned by Warner Bros. Discovery (WBD).
Oct 10, 1996 · Time Warner Inc. and Turner Broadcasting System Inc. officially closed their $7.5 billion merger Thursday after shareholders of both companies voted overwhelmingly to approve the deal.
Jul 17, 1996 · Last year, Time Warner agreed to acquire Turner -- parent company of CNN and several other cable TV networks -- in a stock-swap deal originally valued at $7.5 billion. However, critics have...
Oct 11, 1996 · NEW YORK — Shareholders overwhelmingly approved Time Warner Inc.’s $7.5-million acquisition of Turner Broadcasting System Inc. on Thursday in a deal that vaults Time Warner ahead of Walt Disney...
After complex negotiations with Time Warner's Gerald Levin and TCI's John Malone, Time Warner finally agreed to acquire TBS for $7.6 billion. While it was met with resistance by certain shareholders and the Federal Trade Commission, the union was eventually cleared and completed in 1996.
Sep 23, 1995 · Ending a tumultuous five-week courtship, Time Warner Inc. and Turner Broadcasting System said yesterday that they would merge their sprawling operations, reinforcing Time Warner's position as...
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Sep 23, 1995 · Time Warner Inc. agreed yesterday to buy Turner Broadcasting System Inc. for about $7.5 billion in stock, creating the world's largest entertainment and media empire.
