Ted Turner exiting Time Warner board

[Newsjock]

http://money.cnn.com/2006/02/24/news/companies/time_warner/index.htm?cnn=yes

NEW YORK (CNNMoney.com) - Time Warner said Friday that Ted Turner, founder of the company's Turner cable networks and one of its largest shareholders, will not seek re-election to the company's board of directors.

... Turner, who held 105 million shares of Time Warner stock as recently as 2003, now owns only 33.5 million shares, or about 0.7 percent of shares outstanding, according to share tracking service LionShares. That still makes him the largest individual shareholder, just ahead of the 30.6 million shares held by financier Carl Icahn, who a week ago dropped his efforts to win control of the Time Warner board.

As part of that settlement with Icahn, Time Warner agreed to appoint two independent directors to its board.

[joefree1]

1. Hey Ted, help us get a real News cable Channel

Like the one you started. The one corporatist have destroyed.