Word: warner
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...courtship had all the frenzied twists of a Looney Tunes cartoon--or CNN's Gulf War coverage. For nearly a month, with the world looking on, Time Warner chairman Gerald Levin used shuttle diplomacy to pursue an $8 billion merger with Ted Turner's Turner Broadcasting. Spectators watched in bemusement as Time Warner acknowledged its courtship, then appeared to be stymied by cable-TV king John Malone, a Time Warner rival whose Turner stake gives him effective veto power over a deal. But by Sunday, as TIME went to press, Levin and Turner were tantalizingly close to sealing an agreement...
Milling around the long line of signature-seekers Wednesday were the magazine's promoters and the media. The occasion even merited visits from a Time-Warner representative and Playboy Eastern Division Manager Robert J. Cermak...
...Malone, says an entertainment- industry executive who knows all the principals, "Levin and Malone don't get along" -a charge denied by a senior Time Warner executive. "When John talks, you'd better listen," continues the entertainment executive. "Malone and Turner will hold Levin's feet to the fire, which he won't like." Says another media analyst: "Buying Turner is the right strategic move, but personally Jerry is very brave. These guys are killers...
...work for Disney's Michael Eisner, then surely Ted Turner could take a seat on Gerald Levin's TW board as a buccaneer emeritus, and do his vision thing. "Ted isn't someone who comes in the office every day and sits at his desk," says a top Time Warner executive. "He travels the world and comes up with great ideas. Some of them don't work, but the ones that do, work great." And the Time Warner deal may be one of them. "Turner teaches cats how to land on their feet," says a cnn correspondent who knows...
Overnight Minnesota will be transformed from corn belt to money belt. Gigantic glass skyscrapers will rise in downtown St. Paul, home of the nation's wealthiest state legislature, and as the money floods in, Minnesotans will look for acquisitions: IBM, UPS, USX, GTE, Time Warner, Minnecorp, J.P. Olson, Chase Minnesota. Presidential candidates will hold their big, $100,000-a-plate fund raisers in Minneapolis, will pledge their support for water diversification and mention that, conservative though they be, they've always had a soft spot in their hearts for Hubert Humphrey...