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|Turner in 2007|
|Birthday/Birthplace||Robert Edward Turner III
(1938-11-19) November 19, 1938
Cincinnati, Ohio, U.S.
|Net worth||US$2.3 billion (February 2017)|
|Official Website||Official website|
Robert Edward Turner III (Cincinnati, Ohio, November 19, 1938) is an entrepreneur, investor, landowner, business manager and media mogul, known among other things, for being the founder of the international news network CNN, among other journalistic and commercial companies. He is also a recognized philanthropist, being his most notorious project, his donation of US $ 1,000 million, for the different causes of the United Nations, resulting in the creation of the “United Nations Foundation”, in which he has served as President. Her social image increased with her participation in the world of sports, financing professional baseball and basketball teams, as well as her marriage to the well-known actress Jane Fonda in 1991.
Childhood and youth
He was born in the city of Cincinnati, Ohio, son of Florence and Robert Edward Turner II.When he was nine years old, his family moved to Savannah, Georgia. He attended McCallie School, a private high school for boys in Chattanooga, Tennessee.
Turner attended Brown University and was vice president of the Brown Debate Union and captain of the sailing team. He became a member of Kappa Sigma. Turner initially specialized in classical works, later he changed his studies towards economics, but before receiving a diploma, he was expelled for having a student in his bedroom. Turner was awarded an honorary BA from Brown University in November 1989, when he returned to school to be the keynote speaker for the National Association of College Broadcasters at its second annual conference.
After leaving Brown University, Turner returned to the South in the late 1960s to become CEO of Macon, Georgia, a branch of his father’s business.
In March 1963 his father committed suicide, Turner became president and CEO of Turner Advertising Company when he was 24 years old the following month of this event, he turned the company into a global company. By the time Turner took the company’s board in 1963, it was worth $ 1 million. Determined to expand the family business, in the late 1960s he started buying southern radio stations.
In 1969, he sold his radio stations to buy a television channel in Atlanta, called as WJRJ, Channel 17, and then change the badge to WTCG. At that time, the UHF stations did well they were only in the markets without VHF stations. Initially, the station ran old films from the 1930s, 1940s and 1950s, along with the cartoons of very old theater and comedies and old drama programs.
In 1976, the FCC allowed Turner’s WTCG to use a satellite to transmit content to local cable television providers throughout the country. On December 17, 1976, the WTCG television became a “superstate” with the transmission of popular sports at low prices and entertainment programs (such as old movies, repositions of sitcoms and cartoons) via satellite to the networks of cable television throughout the country, a very profitable innovation that accelerated the development of this form of transmission in the United States. As cable systems developed, many take their station to improve their schedules. This increased its viewers and advertising. Subscribers eventually became two million subscribers and Turner’s net worth rose to $ 100 million. Thanks to this, 5,000 acres (20 km2 of plantation) were purchased in Jacksonboro, South Carolina, for $ 2 million.
In 1978, Turner reached an agreement with a radio station operated by students at MIT, to obtain the rights to the signal of the so-called WTBS for $ 50,000 dollars. This allowed Turner to reinforce the brand image of his “Super-station” using the acronym TBS; Turner Communications Group was renamed Turner Broadcasting System and WTCG was renamed WTBS.
In 1980 he created Cable News Network (CNN), the first television station with a program aimed exclusively at broadcasting news during the twenty-four hours of the day. With the creation of CNN, Turner revolutionized the media industry, creating a format dedicated exclusively to news, with equipment and infrastructure, which allowed them to cover hundreds of great events at national and international level such as the accident of the ferry Space Challenger or the Persian Gulf War.
After an unsuccessful attempt to acquire CBS, in 1985, Turner bought the MGM / UA (Metro Goldwyn Mayer / United Artists) production company from Kirk Kerkorian in 1986 for $ 1.5 billion, and then sold it, keeping only its files cinematographic.
Turner Entertainment Co. was established in August 1986 to oversee the film and television properties owned by Ted Turner.
In the mid-1980s, Turner became a force for the coloring of black and white films. In 1985, the Yanqui Dandy movie became the first black and white film redistributed to color after computer coloring. Despite opposition from film fans, stars and directors, the film won more than one section of the public.
In 1988, Turner Network Television (TNT) was introduced with Gone with the Wind. TNT, initially showed older movies, TV shows and original programs along with new reruns. TNT uses the World Championship Wrestling (WCW) to attract a wider audience, after it was bought by him in 1989. WCW was the main competitor during the 90s in the promotion of American professional wrestling with the WWE. In 2001, under AOL Time Warner, it was sold to the World Wrestling Federation.
In 1990 his coverage of the Gulf War gave international fame to his television network and in 1991 Turner was named ‘man of the year’ by Time magazine. In 1990, he created the Turner Foundation, which focuses on philanthropic donations to the environment and the population. That same year Captain Planet was created and planetariums, a superhero environment. Turner produced two television series with Captain Planet as a featured character.
On October 1, 1992, one of the most recognized cartoon chains in the world, Cartoon Network, would be launched. The MGM library, which included Warner Bros. properties, including the first Looney Tunes and Merrie Melodies and also the Popeye cartoons of Fleischer Studios and Famous Studios and United Artists, would become the core of the channel in its early years. A year earlier, Turner companies bought Hanna-Barbera with its additional content.
In 1994, Turner Classic Movies is launched, which broadcasts MGM’s older films, Warner Bros., and the RKO libraries.
On October 10, 1996 Turner Broadcasting System, Inc. merged with Time Warner, Inc., with Turner as vice president and head of Time Warner, along with Turner’s cable networks division. On January 11, 2001, Time Warner was bought by AOL to become AOL Time Warner, a merger initially supported by Turner, but the bursting of the dotcom bubble hurt the growth and profitability of the AOL division. which in turn dragged the performance and share price of the combined company. At a meeting of the board in the fall of 2001, Turner’s outbreak against AOL Time Warner CEO Gerald Levin finally led to the resignation announced by the last effective in early 2002, replaced by Richard Parsons. < / p>
Ted Turner with Jane Fonda in the 62nd of the Academy Awards.
Turner was removed from his position as head of the cable networks by the then CEO, Gerald Levin, but remained as vice president of Time Warner. He resigned as vice president in 2003 and then board of directors in 2006.
Turner has been married and divorced three times: with Judy Nye (1960-1964), Jane Shirley Smith (1965-1988), and actress Jane Fonda (1991-2001). He has five children.
Through Turner Enterprises, which owns 15 ranches in Kansas, Montana, Nebraska, New Mexico, Oklahoma and South Dakota. With a total of 1,910,585 acres (7,731.86 km2), its latifundios make Turner one of the largest individual owners in North America (by surface). In 2010, Turner joined Warren Buffett in The Giving Pledge, and promised to donate most of his fortune to charity after his death.
Ted Turner Net Worth – $2.2 Billion
More Facts about Ted Turner
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