Ted Turner has used his share of Perils-of-Pauline financial maneuvers in building Turner Broadcasting System, the parent firm of Cable News Network and superstation WTBS. But the brash entrepreneur put a time bomb under his company when he bought MGM/UA Entertainment last March for $1.5 billion. As part of the purchase agreement for the film and TV production firm, Turner issued 53.3 million shares of preferred stock in Turner Broadcasting. A provision of the deal was that starting this June, he would have to pay dividends on those shares in the form of common stock in his firm. He faced the...
DEALS: Hanging In There - Barely
Hanging In There -- Barely
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