Ted Turner to quit the Time Warner board

CNN founder and the media mogul Ted Turner has announced in a statement that he has no plans to seek re-election to the board of US media giant Time Warner. He added that he has thought about it for long and decided that he would now step down from the company’s board.

Ted Turner was the man behind the launch of the famous CNN Channel as part of his Turner Broadcasting business. This was later sold on to Time Warner. He also acted as the vice chairman of the Time Warner group until 2003. He would now be stepping down from the board at the next annual meeting of Time Warner.

Turner said in a statement: “It is after much deliberation that I have decided not to stand for re-election at the annual meeting.” He is expected to now support Time Warner chief executive Dick Parsons who described Ted as a “visionary leader”.

The company on their part announced that former US trade representative Carla Hills would also not be seeking a re-election to the company’s board of directors.

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