DrudgeReportArchives.com
Today's DrudgeReport.com
Drudge's Special Reports


Recent Headlines
Popular Headlines
Time Line



MATT DRUDGE // DRUDGE REPORT 2002�






TED TURNER SLOWS DOWN PAYMENT OF BILLION-DOLLAR U.N. PLEDGE AFTER STOCK WOES
Sun Aug 25 2002 16:46:34 ET

CNN founder Ted Turner has dramatically slowed down payments of a billion-dollar gift he promised to the United Nations.

Hit with a stunning devaluation of AOLTIMEWARNER stock [off nearly 80% from its high], Turner, 63, has so far made good on $350 million of the $1 billion pledged.

Turner's stock in AOLTIMEWARNER was worth $7.2 billion when the merger of the two companies closed in January 2001. It is now valued at only $1.76 billion, the NEW YORK TIMES reports in Monday editions.

In 1997, Turner promised he would donate $100 million a year to the U.N., with the pledge to be paid off by 2007. But now the payment schedule has been extended past the original plan. With more than $600 million to go, Turner still plans to give the full $1 billion, eventually.

Developing...




The Drudge Report does not own, operate or maintain DrudgeReportArchives.com and is not responsible for it in any way.

Drudge Report : E-mail: drudge@drudgereport.com
Matt Drudge's Book: Drudge Manifisto
Matt Drudge on social media: Twitter (occasionally)
Matt Drudge music: Playlist



Home | DMCA | Link Decay

General Support:

Copyright © 2024 DrudgeReportArchives.com. All Rights Reserved.