Take Pity on Ted Turner
Turner still has some significant assets remaining though, including about two million acres in twelve U.S. states and Argentina, 50,000 bison and a restaurant chain. At least he won’t go hungry.
Turner wants to get back into the cable news business, but evidently that takes more than a couple billion. He said that if he had the money he would think about “getting control of Time Warner and getting CNN to focus on serious journalism” and he would get the Cartoon Network to show Captain Planet again. He believes kids these days need their environmental role models, not Superman.
Turner lamented that “while contemporaries such as News Corp. Chief Executive Officer and Chairman Rupert Murdoch, Liberty Media Corp.’s John Malone and Viacom Inc.’s Sumner Redstone keep competing in the media industry … he doesn’t have enough money to get back in the business.”
Turner is going to tough it out though. “To drop out of that league, that was hard to do,” Turner said. “I’ve had the experience of being on top and riding the roller coaster down again, nearly to the bottom. You know, if you economize and don’t buy new airplanes or long-range jets, or that sort of thing, you can get by on a billion or two.”
It sounds like with his determination and bravery in the face of such dire circumstances, and with some serious economizing, he might just bounce back from the significant job and stock loss. If he is still struggling though, he might want to look into tapping into some “stimulus” money. I wonder if there are any funds available for reviving the fortunes of former media giants?
I know the stimulus was supposed to include lots of money for “green” projects. Maybe with the help of Obama stimulus bucks, Turner could revive Captain Planet to inspire a new generation of kids after all.