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Turner held about 104 million shares, or more than 2 percent, before the latest sale aoltimewarner He sold 50 million shares outright, and transferred another 10 million to a charitable trust, which then sold those shares, the company said In January, Turner announced that he would leave the company as vice chairman after its annual shareholders meeting on May 16 The billionaire sold 50 million AOL Time Warner shares and donated 10 million more on Monday, netting $784 Turner, who founded Atlanta-based Cable News Network and Turner Broadcasting, remains the company's largest shareholder He has repeatedly expressed dissatisfaction with the 2001 merger of America Online and Time Warner, although in its release the company said Turner "remains supportive of management" and would vote his shares in favor of company proposals com Since AOL's merger with Time Warner in 2001, the company's shares have lost about 70 percent of their value, removing much of Turner's personal wealth, which was more than $7 billion in the late 1990s 2 million and slicing his share of the media giant to 45 million shares, or about 1 percent The latest Forbes magazine ranking of the world's richest people listed the Georgia mogul's assets at $2 billion bought the shares In a statement announcing the stock sale, AOL Time Warner said Turner had decided to remain on its board Turner also has ended his stock sale program, which sold AOL Time Warner shares periodically continues to dwindle as he sells shares and removes himself from the media company that has sapped much of his fortune 07 each, according to a person familiar with the sale price Turner sold his shares for $13 â€â€?â€â€?â€â€? On the Net: http://www Turner Cuts AOL Time Warner Stake by Half May 6, 6:28 AM EST Ted Turner's stake in AOL Time Warner Inc The Wall Street Journal reported that Goldman Sachs Group Inc That was 31 cents below their closing price Monday on the New York Stock Exchange " In a separate motion arguing for release of the grand jury transcripts, Boutros said that public interest in a case is not a legal reason to seal transcripts Reasons given by Melville for sealing the material were to protect the identify of the minor child who is accusing Jackson and to insulate prospective jurors from publicity that might prejudice them He ordered edited portions of the indictment released but sealed details about acts alleged to have been committed in furtherance of the alleged conspiracy " Sealing materials in the Jackson case, he said, would allow "every defendant in a case of public interest to argue an indictment should be sealed so the world will not learn of his or her alleged bad acts At the request of Jackson's lawyer, he also sealed the names of alleged indicted or unindicted co-conspirators " As for the impact of release on potential jurors, Boutros said the remedy is to conduct careful and thorough jury questioning As for prejudicial publicity, he said, "By definition, an indictment always casts the defendant in a negative light Boutros said the accuser's identity is already well known, although news media outlets have chosen not to publish it The motions are to be heard at a hearing May 28 Media Lawyers Want Jackson Papers Opened May 18, 9:40 PM EST Lawyers for news organizations petitioned the judge in the Michael Jackson case Tuesday to release the grand jury indictment against the pop star and to unseal transcripts of 13 days of testimony that led to the indictment Citing decades of court precedent, attorney Theodore Boutros Jr "Under that predicate, the only time that grand jury transcripts could be made public would be when the public was not interested in reviewing them Boutros, who represents a coalition of news organizations including The Associated Press, urged the judge to release the material in its entirety, or to remove only limited sections, narrowly tailoring the omissions and specifying why their release might prejudice the right to a fair trial argued that indictments can be sealed only under extraordinary circumstances, which have not been part of the Jackson case The indictment actually refers to the accuser as "John Doe," he noted At a hearing April 30, Superior Court Judge Rodney Melville disclosed that Jackson had been indicted on child molestation charges as well as a conspiracy count involving allegations of child abduction, false imprisonment and extortion "This case does not raise any of the issues that have traditionally been invoked to seal or partially seal indictments, such as the need to protect the lives of witnesses, to ensure the defendant or other potential targets did not flee, or the need to protect innocent persons from injury," said Boutros' motion, filed in Santa Barbara County Superior Court |
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