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Ted Turner

August 12th, 2007 · Stories · 1 Comment

Ted Turner

Robert Edward Turner III was born in Cincinnati, Ohio, in 1938. He was notable for eccentric and unconventional behaviour rather than academic excellence. He betrayed a penchant for taxidermy and catching squirrels in pillowcases. Then he was punished to issue demerits which required the recipient to walk a quarter of a mile. Turner earned over 1000 demerits in his first year; further than any pupil could walk in the time available.

At Brown University, Turner continued to challenge authority. Eventually, caught with a woman in his room, he was asked to leave, but not before he had made a name for himself on the university sailing team. After university Turner returned home to work in his father’s advertising billboard business. His father made him manager of the firm’s operation in Georgia.

Turner’s often difficult relationship with his father came to a shocking end in March 1963. When Turner was just 24, his father took a silver .38 revolver and shot himself in the head. In these terrible circumstances Turner became president and COO of the Turner Advertising Company.

Turner expanded the company into television with an audacious move to acquire UHF station Channel 17 in 1970. Turner engineered a deal taking Turner Advertising public, acquiring the assets of Channel 17 and forming a new company Turner Communications.

He changed the programming schedule feeding viewers a diet of reruns -– classic shows and black and white movies. It worked and the advertising revenue flooded in. In 1976 the station went nationwide, transmitting to cable systems across the US via satellite -– it was the start of the “super station concept”.

Turned continued to diversify and expand and not always into obvious areas. In 1976 he bought a major league baseball team, the Atlanta Braves, and in 1977 the Atlanta Hawks of the National Basketball Association.

In 1980 Turner used the profits from Turner Broadcasting Systems to launch CNN (Cable News Network). The critics were scathing. A 24/7 all-news network would never work. But once again Turner proved that when it came to business he knew best. “I am the right man in the right place at the right time,” he said.

CNN was a hit. It brought news, like the Reagan assassination attempt, to viewers as events unfurled. It revolutionised the news industry. CNN cemented its reputation with its coverage of the Gulf War when, for the first time, a TV audience could watch a war in real time, from the comfort of their armchairs.

Turner continued to collect television stations; Headline News (1982), CNN International (1985), TNT (1988), SportsSouth (1990), The Cartoon Network (1992), Turner Classic Movies (1994), CNNfn (1995), and CNN SI (1997) were all added to the network.

In 1996 Turner completed the biggest deal of his career to date, when he merged TBS with Time-Warner. Holding 10 percent of Time-Warner, Turner
had the largest single shareholding. It was an astute move leaving Turner well positioned to profit from the development of a new communication phenomena –- the Internet.

Turner assumed the role of vice-chairman in the new organisation, taking responsibility for Time Warner’s Cable Networks division, which included the assets of Turner Broadcasting System (TBS, Inc.), Home Box Office, Cinemax, and Time Warner’s interests in Comedy Central and Court TV. He was also responsible for New Line Cinema and the company’s professional sports teams.

In 2001, Turner was involved in one of the biggest mergers of the post war period when AOL merged with Time-Warner to create the largest entertainment conglomerate in the world. Time Warner’s shareholders received 45 percent of the new company to AOL’s 55 percent. Turner became vice-chairman and senior advisor of AOL-Time Warner.

Turner’s career is distinguished by relentless drive, an uncanny ability to predict consumer demand and a supreme confidence in his own vision. His competitiveness and drive is equally evident in his sailing achievements. He could have made a good living as an international yachtsman.

Probably the best illustration of Turner’s qualities is the founding of CNN. Turner thought differently and pursued his vision relentlessly. He was right, the critics were wrong. Turner may make an occasional bad call, but, more often than not, his instincts have proved successful. It is this quality of vision, and having the guts to execute it, that has made Turner one of the world’s great media magnates.

Source: Business Strategy Review Autumn 2005

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  • 1 gerry // Aug 16, 2007 at 4:24 pm

    a talented opportunist, is he? I always love a success story, who tell non-fairy-tale like this one hehe amazing…Donald Trump could be put in the same league with Ted Turner, I think.

    just noticed that CNN is owned by him…..great idea at that time, when people hungry with 24/7 news and live coverage all over the world. but to be honest I never heard anything about this guy before, till now..


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