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He and his partners are "getting along extremely well," Turner says, relaxing in a stuffed chair in his spacious Atlanta office, cluttered with silver trays, banners and other memorabilia. But he admits that the restraints often chafe. "My hands are absolutely tied. This is not my company anymore." The board has scotched some of Turner's ideas (like a proposal to buy the Financial News Network, and another to lease part of New York City's Pan Am Building and emblazon it with the CNN logo). But it approved one of his boldest moves: the October 1988 launch of TNT.
Some cable executives were skeptical that the new network would find a niche on an already crowded cable dial, especially since it would be filled largely with old movies. But TNT, seen today in 37.5 million cable homes, has drawn an enthusiastic cult audience for its treasure trove of MGM, RKO and pre-1950 Warner Bros. movies. Film lovers, who were outraged at Turner for colorizing classics originally released in glorious black-and-white, are now also praising him for unearthing the oeuvres of Warren William, Edna May Oliver and Alfred E. Green. "The demand for classic movies was unrecognized even by our cable partners," says Turner. "But I knew they would be popular."
TNT has served up original movies as well, like Faye Dunaway's Cold Sassy Tree and this month's remake of Treasure Island, starring Charlton Heston as Long John Silver. By 1992 the channel plans to churn out four made-for-TV movies a month. TNT also carries N.B.A. basketball (Turner just renewed his package of 50 regular-season games for four more years at the hefty cost of $275 million), and will offer 50 hours of exclusive Winter Olympics coverage in 1992. And if TNT seems to be stealing some thunder (and some programming) from TBS SuperStation, Turner's older and still more widely seen channel, the ratings do not show it: TBS's audience in December was the highest in its history. The creation of TNT now seems like a marketing masterstroke. "They are like two brands put out by the same manufacturer," says Gerry Hogan, president of Turner Entertainment. "Like Procter & Gamble producing both Tide and Cheer."
Turner's news operation is also booming. CNN's coverage of the San Francisco earthquake drew its highest ratings ever, and the news network is assembling a 50-member investigative unit, headed by former ABC documentary chief Pamela Hill. With the completion of a satellite link over the Indian Ocean last summer, CNN International is seen in virtually every country on the globe, beamed to embassies in Europe, oil platforms in the North Sea and satellite dishes in the jungles of Peru. (Turner just received permission to set up a receiving dish for CNN in Viet Nam.) The network is also pursuing the youth market with CNN Newsroom, a daily 15-minute news program seen in 5,600 schools.