Robert Edward Turner III, better known as “Ted” is one of the most colorful and interesting entrepreneurs of the 20th century. A flamboyant, individualistic, and controversial figure, the maverick businessman single-handedly built his father’s debt-laden billboard business into a successful broadcasting empire that rivals the three major networks: NBC, CBS and ABC. Turner’s nonconformist risk-taking and rebellious nature sets him apart from the stereotypical image of the staid and basically conservative businessman. Many argue Turner’s strict upbringing and father were responsible for producing such a personality. Many of Turner’s “escapades” are viewed as a way of acting out his frustrations from such a stern childhood environment.
Despite these qualities, Turner took his father’s billboard business and turned it around. He was able to pay off a debt of $6 million in a period of six years. Once the debt was out of his way, Turner began diversifying the company. He purchased two radio stations in Chattanooga, Tennessee, following up these purchases with the purchase of an independent television station in Atlanta. Through his own innovative strategies, persistence, and what some consider more than a few lucky breaks, Turner’s independent station became a major force in Atlanta. Turner’s programming choices are cited by many as the reason behind the success of the station: movies, reruns, and sports.
In the 1970s Turner made two more purchases that further diversified the company. He purchased the Atlanta Braves baseball team outright and bought a 95 percent interest in the Atlanta Hawks basketball team. In 1979, Turner made heads turn with another innovative program he developed, Cable News Network (CNN), the first 24-hour cable news station in the history of television. Most of the early 1980s Turner was obsessed and preoccupied with making CNN a success. In 1985, the burgeoning entrepreneur ...