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Turner to buy MGM-UA in $1.5 billion deal
Cable magnate Ted Turner agrees to acquire MGM-UA for 29 dollars a share, financing the 1.5 billion cash payment and arranging the later sale of United Artists to Tracinda for 470 million. Analysts question Turner’s ability to raise funds and profitability, while MGM-UA stock climbs slightly amid regulatory and stockholder approvals.
MENTIONED IN THIS ARTICLE
Los Angeles
Ted Turner
Mgm-Ua Entertainment Co
Eye
CBS Inc
Turner Broadcasting System Inc
Mgm-Ua
Ted Turner Turner
TBS
MGM
Turner
Arthur Rockwell
Frank Rothman
CBS
Ernest Sando
United Artists Corp
Tracinda Corp
Tracinda
Turner Broadcasting
MGMUA
Harold Vogel
Merrill Lynch
New York
Lee Isgur
Paine Webber Inc
The
Wall Street Journal
Sando
WTBS