Turner to quit Time Warner board
CNN Ted Turner has announced he will not be seeking re-election to the board of US giant Time Warner. Mr Turner said that "after much deliberation" he had decided to step down from the company's .
The media created the CNN news as part of his Turner Broadcasting business, which he later sold to Time Warner.
Mr Turner, who was Time Warner's vice until 2003, said he would step down at the firm's next meeting.
Mr Turner remained Time Warner's largest single for some time after the sale of his group for $7.5bn (£4.3bn) in 1996.
Time Warner chief Dick Parsons described Mr Turner as a "visionary leader".
"Ted Turner's record as a media pioneer and executive at Turner Broadcasting and Time Warner speaks for itself," he said.
Mr Turner, the former husband of actress and peace Jane Fonda, shot to fame as boss of the Turner Broadcasting System, overseeing including CNN and entertainment channel TNT.
Time Warner also that former US trade representative Carla Hills would not be seeking re-election to the company's board of .
Shares in Time Warner were almost 1% at $17.21 in midday Wall Street trade on Friday.
(BBC News 24 Feb 2006)
Sist oppdatert: 24.04.2007
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