A college dropout who turned a failing billboard business into a media empire. The creator of the first 24-hour news channel, CNN, and the person who revolutionized the cable television industry. He was known as “The Mouth of the South” and “Captain Outrageous” for his controversial statements and actions. He was one of the most influential and eccentric tycoons in American history. This is the story of Ted Turner.
Ted Turner was born in Cincinnati, Ohio, on November 19, 1938. He was the eldest child of parents Robert Edward (Ed) Turner Jr. and Florence (Rooney) Turner. His father was a successful billboard-advertising magnate who moved the family to Savannah, Georgia when Ted was nine years old. Ted grew up in an affluent but strict household where he was expected to follow his father’s footsteps in the business world. He attended The McCallie School, a private boys’ preparatory school in Chattanooga, Tennessee, where he excelled in sailing and debating. He then enrolled at Brown University but was expelled three years later for having a woman in his dormitory room.
Ted joined the family business in 1960 as the general manager of one of its branch offices in Atlanta. He proved to be a savvy and aggressive businessman who expanded the company’s operations and revenues. In 1963, however, his father committed suicide after suffering from depression and alcoholism. Ted inherited the company, which was worth $1 million at the time, and renamed it Turner Communications Company.
In 1970, Ted made a bold move by purchasing a financially troubled UHF television station in Atlanta for $2.5 million. He turned it into one of the few profitable independent stations in the country by airing popular movies and reruns of old shows. He also introduced innovative programs such as wrestling matches and Atlanta Braves baseball games, which he acquired in 1976 along with the Atlanta Hawks basketball team. In 1975, he used a new communications satellite to broadcast his station nationwide via cable television, creating the first “superstation” in history. He later renamed it TBS (Turner Broadcasting System).
Ted’s ambition did not stop there. In 1980, he launched CNN (Cable News Network), the first 24-hour news channel that covered breaking news from around the world with live reports and interviews. CNN became a sensation during major events such as the Space Shuttle Challenger disaster in 1986 and the Persian Gulf War in 1991, attracting millions of viewers and advertisers. In 1988, Ted created TNT (Turner Network Television), another cable network that featured original dramas and movies as well as classic films from his own library. He also founded other channels such as Cartoon Network, TCM (Turner Classic Movies), and TBS (Turner Broadcasting System).
In 1986, Ted made another daring acquisition by buying MGM/UA Entertainment Company for $1.5 billion, which included Metro-Goldwyn-Mayer’s library of more than 4,000 films. He set off a storm of protest when he authorized the “colorizing” of some of the black-and-white classics such as Casablanca and The Maltese Falcon. He also sold off most of MGM/UA’s assets to reduce his debt burden but kept its film library and production facilities. In 1996, he merged his company with Time Warner, one of the largest media and entertainment conglomerates in the world. He became the vice chairman and the largest individual shareholder of the merged entity, which also owned HBO, Warner Bros., and DC Comics.
However, Ted’s fortune and influence took a major hit when Time Warner merged with AOL, the leading internet service provider, in 2001. The deal was widely regarded as one of the worst mergers in history, as it resulted in massive losses, layoffs, lawsuits, and scandals for both companies. Ted lost as much as $7 billion when the stock price collapsed in the wake of the merger. He also lost his executive position and his board seat in 2003. He later expressed his regret and resentment over the merger, calling it a “big mistake” and blaming AOL’s executives for ruining his legacy. He also sold most of his shares in AOL Time Warner (later renamed Time Warner) by 2006.
Ted Turner was not only a media person but also a noted philanthropist and environmentalist. He donated some $1 billion to establish the United Nations Foundation in 1998. Turner has been recognized by Time magazine as one of the 100 most influential people of the 20th century and by Fortune magazine as one of the greatest business leaders of all time.
Turner has also been known for making provocative and controversial statements that have offended or angered many people. For example, he once called Christianity “a religion for losers”, which he later apologized for. He also criticized Fox News as “propaganda”, called global warming “the most serious … problem that humanity has ever faced”, and suggested that men should be barred from political office for 100 years. He has also clashed with Rupert Murdoch, the owner of Fox News and a rival media tycoon, whom he challenged to a fistfight in 2003. Turner has said that he likes to speak his mind and stir up debate, but he has also acknowledged that he sometimes regrets his words and actions.
Ted Turner is a man who has lived a life full of passion, vision, innovation, and philanthropy. He has changed the face of media, sports, entertainment, and global affairs with his bold ideas and actions. He has also faced many hardships and controversies that have tested his character and resilience. He is a man who has made a difference in the world and inspired many others to do the same.
