Ted Turner sells more AOL stock

• May. 6, 2003

In a move that maybe wasn’t so surprising, Ted Turner had another fire sale on AOL shares.

In his largest single sale this year, Turner sold 60 million shares of AOL stock.  The sale, valued at $789 million, represents more than half the over 100 million shares that Turner held at the end of April.  Add this to the 8 ½ million shares he sold in February and I think you can see a definite trend.  That leaves Turner with about 45 million remaining shares worth about $590 million at today’s share price

He has been ad odds with the company over how he ran CNN and has therefore stepped down from the role of vice chairman of AOL/Time Warner this month.  He will still remain on the board of directors says AOL insiders.

Turner has been a vocal opponent of AOL/Time Warner management for quite some time, as we’ve told you in recent articles.

Rob Sullivan
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