AOL Time Warner Inc. (NYSE: AOL) today announced that Ted Turner has decided to step down as Vice Chairman of AOL Time Warner, effective at the Annual Shareholders Meeting in May 2003
Turner, who has routinely sold some of his AOL shares, sold 450,000 common shares for $11 to $11.26 each, according to a filing with the Securities and Exchange Commission released on Friday....After the transactions, Turner, AOL's largest individual shareholder, directly held more than 117 million shares.
Ted Turner is known for the Atlanta-based television empire he created and for launching CNN, the world's first, live, round-the-clock news television network.
Turner became Vice Chairman of Time Warner in October 1996, with the merger of Time Warner Inc. and Turner Broadcasting System, Inc. Turner oversaw Time Warner's cable networks division, which included the assets of Turner Broadcasting System, Inc. (TBS, Inc.), the CNN Newsgroup
he just might have been a tidge involved in media news over the last decade
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