DEALS: Hanging In There - Barely

Hanging In There -- Barely

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...

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