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Atlanta Yachtsman and Cable-TV Magnate Ted Turner has often sailed daringly close to the wind, sometimes taking a soaking. In 1985 he failed to carry off a $5.4 billion takeover of CBS on behalf of his flagship Turner Broadcasting System, only to bob back seven months later by taking over MGM/UA for the startling sum of $1.7 billion. Then he aimed at nothing less than boosting world peace with his Moscow Goodwill Games in July, which failed to attract the huge TV audience he had expected. Last week the ebullient Turner dipped into the water again when second-quarter...
...hard stuff, some distillers have repackaged their products as premixed cocktails. While they have tried this before with limited success, they now plan to offer more varieties in slicker containers. Chicago's Jim Beam, maker of the top-selling bourbon, has introduced single-serving cans in which its flagship brand is premixed with lemonade and other soft drinks. Winemakers have caught on to picnic-style packaging as well. Yago Sant'gria, the Spanish wine, now comes in six-packs of the same cardboard containers (straws included) that normally contain fruit juice for children's lunch boxes...
...miles offshore and 15 ft. to 140 ft. down the steeply sloping bottom lie the remains, partly enveloped in coral, of the Boussole and the Astrolabe, the flagship and companion frigate of one of France's greatest 18th century navigators, Count Jean Francois de la Perouse. Louis XVI had dispatched the aristocrat to the Pacific in 1785, hoping that his discoveries would rival those of British Explorer Captain James Cook. As Louis was led to the guillotine eight years later, he supposedly inquired, "Has there been any news of La Perouse?" Each morning 20 divers from a multinational team...
Times Mirror, which had 1985 profits of $237 million on revenues of $2.96 billion, has been on a buying spree. Two days before the Sun deal, the company said that it was buying the National Journal (circ. 5,100), a prestigious Washington weekly. Once known mainly for its flagship paper, the Los Angeles Times, Times Mirror now draws about 40% of its revenues from its East Coast operations. One star performer: Newsday (circ. 582,388), a fast-growing Long Island daily that is ambitiously expanding its distribution in New York City...
Still, the firm's flagship publication, the four-year-old USA Today, is far from being a financial success. While its circulation is a robust 1.4 million, the paper attracts little national advertising. As a result, analysts estimate, it lost $85 million before taxes last year, bringing the total since the paper was founded to some $340 million. Nonetheless, Neuharth remains confident that it can be turned around. Curley probably shares that optimism. One reason: he was USA Today's first editor...