Turner Broadcasting Bids On King World

Tue., May 9, 1995

From Staff And Wire Reports

Turner Broadcasting System Inc. is in serious talks to buy first-run syndication powerhouse King World Productions Inc. for about $1.9 billion.

If a deal materializes, sources expect it will be a springboard for TBS to make a bid for CBS Inc., because TBS could use debt-free King World’s cash surplus of $468 million as a down payment on CBS financing.

Sources said TBS is seeking a cashless stock-swap acquisition for King World. King World and TBS declined comment about the report of merger talks. King World, the $503 million-revenue syndicator known for syndicating “Wheel of Fortune,” “Jeopardy!” and “The Oprah Winfrey Show,” is seen as an attractive company for $2.8 billionrevenue TBS because of its hit firstrun shows and strong TV program distribution organization.

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Turner Broadcasting Bids On King World

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