Business Notes: Aug. 12, 1985

TAKEOVERS CBS to Turner: You're Out

The summer has not been kind to Ted Turner. His Atlanta Braves are buried in fifth place in the National League West, and now the cable-TV king's chances of gaining control of CBS appear to be as slim as his World Series hopes. Last week CBS succeeded in buying back 21% of its own stock for about $1 billion in a deal that will make it virtually impossible for Turner's takeover effort to succeed. Both the Federal Communications Commission and a U.S. district court in Atlanta blocked Turner's last-minute legal challenges to the network's move.


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