TED TURNER SLOWS DOWN PAYMENT OF BILLION-DOLLAR U.N. PLEDGE AFTER STOCK WOES

DRUDGE REPORT ^ | Sun Aug 25 2002 | DRUDGE REPORT

[Liz]

CNN founder Ted Turner has dramatically slowed payments of a billion-dollar gift he promised to the United Nations.

Hit with a stunning devaluation of AOLTIMEWARNER stock [off nearly 80% from its high], Turner, 63, has so far made good on $350 million of the $1 billion pledged.

Turner's stock in AOLTIMEWARNER was worth $7.2 billion when the merger of the two companies closed twenty months ago. It is now valued at only $1.76 billion, the NEW YORK TIMES will report in Monday editions.

Turner had promised he would donate $100 million a year to the U.N., with the pledge to be paid off by 2007.

But the payment schedule has now been extended past the original plan.

With more than $600 million to go, Turner still hopes to give the full $1 billion, eventually.

Developing...

[Liz]

Guesss Ted's vaunted altruism and beneficence is all about Ted after all.

[Sungirl]

How do we make him go bankrupt?

[Excuse_My_Bellicosity]

Ted Turner should have his assets frozen for his support of terrorism, which is exactly what the UN is doing.

[Enterprise]

The day may come when the mouth of the south would kinda like that money back. Oh I hope it's soon! And BTW, if he expects the U.N. to help him out when he goes broke GOOD LUCK! Although they might let him settle on a farm recently liberated in Zimbabwe since he has been such a good stooge for the U.N.

[Fracas]

At last! Some good news about the market! LOL.

[Militiaman7]

A fool and his money......

[Vast Buffalo Wing Conspiracy]

Tis an ill wind that blows no good!

[Illbay]

One word:

Schadenfreude!

[DoughtyOne]

I just don't get it. How could this happen to the most brilliant man in media? </sarcasm> Looks like Mr. Hot Shot's luck has pulled a Fonda on him.

[aristeides]

I hope he's not counting on AOL stock going back up.

[Drango]

indian giver...uhh wait, thath's not PC.

niggardly...uhhhh that too is non PC.

shylock ohhhh never mind....

[river rat]

Shame on you
< /kidding>
Semper Fi

[onedoug]

So, his socialism would be fueled by capitalism. Sure, that makes sense.

Hmph!

[kcpopps]

How do we make him go bankrupt?

If anyone figures that out, please let me know, I want to help if I can.

[Paulus Invictus]

May Turner the commie and AOL Time Warner go belly up. He'd also have to sell the half of Montana he owns.

[McGavin999]

My my my, what a shame. I'll bet the UN has already spent that money too.

[stevem]

What a dead beat!

[Liz]

We don't have to do nuttin.' Ted will do it all to himself. Stay tuned.

[Liz]

He gives til it hurts ....somebody else.......