TS News - Time Warner Says Merger Deal Reached

TELE-satellit News, 18 July 1996

Time Warner Says Merger Deal Reached
  NEW YORK, New York, USA, 96/07/18 (TS) -- Time Warner announced Wednesday
that it has reached an agreement with the Fair Trade Commission regarding
its merger with Turner Broadcasting System. It released the following
statement on Wednesday morning in New York:

  NEW YORK, July 17, 1996--Time Warner Inc. announced today that it has
reached an agreement in principle on a consent order with the Federal Trade
Commission staff, Telecommunications Inc. and Turner Broadcasting System,
Inc. to proceed with the Time Warner-Turner merger.  The agreement in
principle is subject to the execution of definitive agreements by all
parties and approval of the Federal Trade Commission commissioners.
  Time Warner Inc., the world's leading media company, consists of three
fundamental businesses: entertainment, news and information and
telecommunications, with interests in filmed entertainment, television
production, broadcasting, recorded music, music publishing, cable-television
programming, theme parks, magazines, book publishing and cable-television

(c)TELE-satellit 1996. All rights reserved.

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