Turner eyes $1.65 billion KW bid: stock swap could net Turner $500 million to put toward CBS or buying out TW stake.(Turner Broadcasting is said to be proposing $1.65 billion stock swap for King World Productions)(Brief Article)

Broadcasting & Cable, July, 1995 by Brown, Rich

Stock swap could net Turner $500 million to put toward CBS or buying out TW stake Talk of a possible sale of King World Productions to Turner Broadcasting heated up again last Friday, just as the FCC was dealing its blow to the syndication business with its decision to sunset the Prime Time Access Rule (see story, page 4).

Turner Broadcasting was said to be proposing a stock swap worth an estimated $1.65 billion for the New York-based company, which built its business by syndicating such popular shows as Oprah, Jeopardy! and Wheel of Fortune, the latter two in access time periods opened up by PTAR. One of the jewels in the King World crown is a cash reserve of $500 million, which analysts say could be used to strengthen a Turner bid for CBS or to buy out...

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