So W-B owns the rights to Ted Turner's properties?
Time Warner mergerTurner Broadcasting System, Inc merged with Time Warner, Inc. on October 10, 1996, with Turner as vice chairman and head of Time Warner's cable networks division. Turner was dropped as head of cable networks by CEO Gerald Levin but remained as Vice Chairman of Time Warner. He resigned as Time Warner vice chairman in 2003 and then from the board of directors in 2006.
On January 11, 2001, Time Warner was purchased by AOL to become AOL Time Warner, a merger which Turner initially supported. However, the burst of the dotcom bubble hurt the growth and profitability of the AOL division which in turned dragged down the combined company's performance and stock price. At a board meeting in fall 2001, Turner's outburst against AOL Time Warner CEO Gerald Levin eventually led to the latter's announced resignation effective in early 2002, being replaced by Richard Parsons. In contrast to Levin who as CEO isolated Turner from important company matters, Parsons did invite Turner back to provide strategic advice although Turner never received an operational role that he sought. The company dropped "AOL" from its name in 2003. In December 2009, AOL was spun off from the Time Warner conglomerate as a separate company.
Turner was Time Warner's biggest individual shareholder. It is estimated he lost as much as $7 billion when the stock collapsed in the wake of the merger. When asked about buying back his former assets, he replies that he can't afford them now.