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...with unconsolidated sales of $21 billion. Time Warner--with holdings in film and television (including Warner Bros., HBO and Cinemax), publishing (including TIME, Book of the Month Club and Little, Brown Publishers) and music (including the Atlantic and Elektra labels)--adds to its roster such gold-plated assets as CNN, TBS, TNT, a vast film collection and some 28,500 television programs. Levin paid a golden price too--178 million shares of Time Warner stock, worth about $7.57 billion...
...rambunctious Robert Edward Turner. The question bounding around the new company is, What does Ted want? He certainly wants an active role in management, as he made clear in forcing Levin to carve out a fourth operating division for him that includes Time Warner's HBO and Cinemax, besides CNN and the other former Turner Broadcast properties. His game plan might include lifting the company's stock price by selling off assets, cutting debt and pressing for lower costs. "Ted is magic," says fellow industry maven Glenn Jones, CEO of Jones Intercable. "He can do things and say things that...
...Louis, Missouri, and reported that they felt most favorable about Clinton when he praised health insurance guarantees in the Kennedy-Kassebaum bill, and liked Dole best when he called the U.S. "the greatest country on the face of the earth." A woman on the street, interviewed by CNN, said Dole "just seemed snippy last night." Someone writing in to the WELL, an online bulletin-board service, said Dole's worst moments were at the end: "He sought to talk to young people, and failed to connect." David Letterman listed the Top 10 Ways to Make the Next Presidential Debate More...
...news is big business. Last week another media behemoth entered the 24-hour news competition, as Rupert Murdoch launched the Fox News Channel, available initially in 17 million homes. It will vie for viewers with the granddaddy of 24-hour TV news, CNN (whose owner, Turner Broadcasting, last week became part of Time Warner, TIME's parent company), and with MSNBC, the ambitious TV-and-Internet news service launched in July by NBC and Microsoft...
...sally in the news wars has sparked an extraordinary corporate feud. Murdoch has charged that Time Warner reneged on an agreement to carry the Fox News Channel on its cable systems, opting for MSNBC instead. (Time Warner had been required by the Federal Trade Commission to pick up one CNN competitor in order to win approval of the Turner merger.) This was a blow to Murdoch's hopes of expansion, since it means he will be blocked from Time Warner's almost 12 million cable homes--most crucially those in New York City, where Fox is based. Last week Murdoch...