Turner Entertainment Company is an American multimedia company founded by Ted Turner on August 2, 1986. Purchased by Time Warner on October 10, 1996 as part of its acquisition of Turner Broadcasting System (TBS), the company was largely responsible for overseeing the TBS library for worldwide distribution. In recent years, this role has largely been limited to being the copyright holder, as it has become an in-name-only subsidiary of Warner Bros., which currently administers their library. On March 25, 1986, Ted Turner and his Turner Broadcasting System purchased Metro-Goldwyn-Mayer (MGM) from Kirk Kerkorian for $1.5 billion, and renamed MGM Entertainment Company, Inc. However, due to concerns in the financial community over the debt-load of his companies, on August 26, 1986, he was forced to sell the MGM name, all of United Artists (UA), and the MGM Culver City-based studio lot back to Kerkorian for approximately $300 million after months of ownership. But in order to manage the vault, Turner kept the studio's film, television and cartoon library as well as a small portion of the United Artists library, forming Turner Entertainment Company. The company was headed by Roger Mayer, who was former executive of MGM, and formed a development division with the intention of making movies and TV shows. The library also included the pre-1950 Warner Bros. library (as well as most of the pre-August 1948 Looney Tunes and Merrie Melodies cartoons), the Fleischer Studios/Famous Studios Popeye cartoons originally released by Paramount Pictures, the US/Canadian/Latin American/Australian distribution rights to the RKO Radio Pictures library, and most of the Gilligan's Island television franchise (not counting the TV movie sequels owned by other companies), all of which were owned by United Artists. In order to use funds, Turner instituted a policy that they would pass on making sequels to classic Turner-owned properties, in favor of making colorization of old black-and-white movies. On December 2, 1987, Turner Entertainment had entered into an agreement with American Film Technologies to computer-colorize three films that were originally in black-and-white, namely the three films from the MGM library, such as Boom Town, They Were Expendable and Catered Affair, and Turner would have the option to have AFT to have an order for additional 22 films and has a second option for another 24 films between now and 1992. On December 10, 1987, Turner acquired the worldwide licensing ... More information...
According to PR-model, turner.com is ranked 4,080th in multilingual Wikipedia, in particular this website is ranked 3,279th in English Wikipedia.
The website is placed before gsp.ro and after australiantelevision.net in the BestRef global ranking of the most important sources of Wikipedia.
