Ted Turner | 60 Minutes Archive
In a Nutshell
Ted Turner, the maverick TV pioneer who launched CNN in 1980 and built a superstation empire after his father's suicide propelled his entrepreneurial rise, regrets the disastrous AOL-Time Warner merger that cost him $7-8 billion and stripped his control at CNN. Now 64, vice chairman in name only after resigning, he focuses on philanthropy—including a $1 billion UN Foundation pledge, nuclear threat initiatives, and environmental efforts—while owning 2 million acres, running Ted's Montana Grill, and producing films. Reflective yet unapologetic, he owns outrageous past statements, values stepping aside for the young, and envisions a tombstone reading "I have nothing more to say."
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60 Minutes rewind profiles Ted Turner, known as Maverick, Captain Outrageous, Terrible Ted, Mouth from the South. Television pioneer created CNN over 20 years ago. Fascinating and unpredictable. Disliked job as vice chairman at AOL Time Warner but resigned last week without clue. Still holds title of vice chairman until May.
Walking outside AOL Time Warner headquarters in Manhattan. Not iced out: one foot in the door, one on the sidewalk. Vice chairman is title without portfolio, like emperor of Japan—in charge of nothing. No voice in running CNN. Formal role as advisor, but not what he wants. Trying to play assigned role well, on board of directors, but they don't pay as much attention as he'd like.
Voted for Time Warner and AOL merger with unbridled joy: > "I did it with as much or more excitement and enthusiasm as I did on that night when I first made love some 42 years ago." On eve of merger, clear it would go through, so went along. Big mistake. Stock soared at announcement, giving largest individual shareholder Ted Turner billions. Since then, stock gone way south. Lost 7 or 8 billion from high to low.
1977: Met young Ted Turner after sailing Courageous to victory in America's Cup race. > "Ah, you know, it's just another sailboat race." Father ran successful billboard company, tortured by depression, strict disciplinarian, extremely close. Used to beat Ted with wire coat hanger several times. Made Ted spank him one night—much harder to spank father than be spanked. Father committed suicide when Ted was 24; then Ted swung into high gear as entrepreneur.
By 1979: Created nation's first TV superstation, owner of Atlanta Braves baseball team. 1980: Launched CNN. Dubbed Chicken Noodle Network, but proved serious news operation.
Married and divorced three times, most recently Jane Fonda, remains deeply loyal. Fonda said: Severely, hauntingly traumatized, always thinks something will be pulled out from under him due to dad, no belief in permanency or stability—one reason not with him. Turner acknowledges some insecurity problems, common in overachievers.
Earned nicknames for speaking mind off the cuff, things taken out of context. > "Christianity is for losers." Terrible statement, regretted immediately. Post-9/11 speech: > "The 19 young men who blew themselves up going in the trade center that our administration called cowards. I mean, how are you a coward when you're willing to die for your country? I think they were brave at very least cuz I'm not going to fly my airplane." Brave bad word, but father committed suicide—not coward, very brave in Turner's opinion. Regrets saying it. > "A lot of times what you have in your mind is best left unsaid. Particularly if you're trying to be diplomatic." Trying to be diplomatic now: > "Sticks and stones will break my bones, but words will never hurt me. But that's not really true. Words can hurt somebody."
At UN luncheon honoring him, recounted 1997 speech: Got letter to be United Nations Association Man of the Year. Thought to say something significant. UN has no money, US won't pay. Pledged $1 billion over 10 years through foundation. Named United Nations Foundation—UN approved after checking he wouldn't embarrass them. Extended payout due to AOL Time Warner stock collapse, committed to every dollar.
Nuclear Threat Initiative to fight weapons of mass destruction. Efforts: save environment, prevent weapons of mass destruction, $1 billion to UN Foundation for poverty relief, stop war, cure diseases. > "I do feel the world and life have been mighty good to me. I want to put something back." Does it because right thing to do.
Owns nearly 2 million acres, more than Delaware. Ted's Montana Grill restaurant chain. Ted Turner Pictures bankrolled Gods and Generals Civil War movie, premiering next week—got cameo: > "We owe you Texas boys a debt of gratitude for putting on these shows." Proudest of CNN, lost control. Against CNN-ABC News merger—too many problems.
If still running CNN, changes? Not fair question. Basically doing pretty good job. Some things he doesn't like as old fuddy duddy after 22-23 years. Good for older people to step aside for younger.
Walked to CNN glass-enclosed street-level studio in New York City. On outside looking in—difficult, but can't live in past, plenty to do. Known for starting CNN and Cartoon Network (viewership twice CNN's). Greeted warmly inside.
Stroll past old CBS building: > "This nearly was mine." Had all three networks bought at one time, never acquired major ones. At age 64, in good shape. Wants life varied, interesting, exciting, challenging, fun. Tombstone: > "I have nothing more to say."
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