Nipper said nope

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While AOL Time Warner Inc. said flatly that Cable News Network isn't for sale, some on Wall
Street suggested that a sale would be a more viable option now that CNN founder Ted
Turner has effectively left the building.

"He's really not around to wage a holy war in favor of keeping it," one observer offered.

But that conventional wisdom defies history.

Back in 1984, Turner offered to sell one-half of both CNN and CNN Headline News to
RCA for $250 million, according to a source who was involved in the talks.

RCA passed, the source said, because it couldn't justify paying more than
$225 million.

That seems like chump change today given some estimates that CNN could fetch $8
billion.

"It was one of those strategic decisions that made RCA what it is today," the
source said -- defunct, that is.

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