Time Warner buys Liberty Media's Court TV for $735 million

MUMBAI: Media conglomerate Time Warner has acquired Liberty Media Corporation's half of Courtroom Television Network LLC, the owner of Court TV, for $735 million.
Time Warner now owns Court TV in its entirety. Court TV will operate as part of Turner Broadcasting System Inc., within its entertainment division, under the direction of entertainment group president, Mark Lazarus.

Time Warner's Turner Broadcasting unit, also manages a large group of cable networks including CNN, Turner Classic Movies and the Cartoon Network.

Seen in 86 million households, according to an official release, Court TV covers all aspects of the US system of justice. It is the leading producer of original programming in the crime and justice genre as well as other content, which appear on its network and popular Web sites as well as, increasingly, new distribution platforms.

Time Warner chairman and CEO Dick Parsons said, "Acquiring all of Court TV represents a strategic investment in one of Time Warner's most successful lines of business - our news and entertainment cable networks. We're confident that Court TV will continue its top-notch performance and become an important contributor to our growth. We look forward to working with our friends at Liberty Media in the future."

Liberty chairman John C. Malone said, "We have enjoyed our long association with Court TV and its exceptional management team. The business has created tremendous value for our shareholders. We wish Henry Schleiff and his team well and have no doubt Court TV will continue its strong track record of success and value creation for Time Warner's shareholders."

Henry Schleiff, who served as Court TV's chairman and CEO, will be the network's non-executive chairman for the next six months, focused on Court TV's transition to Turner and the network's public service initiatives.

Liberty president and CEO Gregory B Maffei said, "We've enjoyed building Court TV with Henry and Time Warner, and we'll welcome the opportunity to work together again. Liberty is pleased with the value created for our shareholders by this business and transaction."

Time Warner president and COO Jeff Bewkes said, "Let me express our appreciation to Henry Schleiff for his keen vision and inspired leadership at Court TV. Court TV has made outstanding progress in its programming, marketing and distribution operations. Turner's presence and relationships will help us further strengthen Court TV's competitive position."

Turner Broadcasting System chairman and CEO Phil Kent said, "Court TV's established brand, programming franchises and robust new media extensions complement our successful branded entertainment and news networks and businesses. This integration into Turner will ensure Court TV's future growth and success, as well as make our portfolio stronger."

Latest Reads
Dsport to broadcast 'British Open' live for viewers in India

Dsport will broadcast the 147th edition of the much awaited ‘British Open’ live in India. The tournament will commence from 19 July 2018 at the Carnoustie Golf Course, Scotland.

Television TV Channels Sports
Zee Telugu to enhance family ideals with Ninne Pelladatha, brand-new fiction show

Providing the audiences with yet another entertaining and relatable fiction show, Zee Telugu launches Ninne Pelladatha, a show that highlights the bond humans share, regardless of being blood-related.

Television TV Channels Regional
Religious most benefitted genre in Chrome DM week 28

With a growth of 2.05 per cent as compared to last week (27), the religious genre marked the highest opportunity to see (OTS) among all categories in week 28 of Chrome Data Analytics & Media.

Television TV Channels Viewership
BARC India plans expansion of metre homes to 44,000 by this FY

Rural India is getting in the limelight. TV ratings body BroadcastAuidence Research Council (BARC) is expanding metre homes to 44,000 by this financial year.

Television TV Channels Viewership
Ranjana Mangla appointed national revenue head of India Today TV

Ranjana Mangla has been appointed the national revenue head of India Today TV. She will report to the chief revenue officer Rahul Kumar Shaw and will be based out of the ITG Mediaplex, Noida.

Television TV Channels News Broadcasting
Discovery chronicles the harrowing story and extraordinary rescue of the thai soccer team that is captivating the world in Operation thai cave rescue

From the moment the heartbreaking news broke that 12 young Thai soccer players and their 25-year-old coach were stuck in a cave complex near the Myanmar border

Television TV Channels Factual & Documentary
Zee Cinema to air the animated movie Smurfs - The Lost Village on Saturday, 21st July at 12pm

If you’ve watched The Smurfs and The Smurfs 2, you’re probably aware of the tiny blue creatures with white clothes and droopy hats living out their lives in blissful coexistence.

Television TV Channels Movie Channels
TLC to premiere Curvy Bride Boutique for plus size brides

TLC, India’s go to lifestyle channel, is all set to premiere the most popular and talked about UK based show Curvy Bride Boutique from 16th July at 10 PM.

Television TV Channels Factual & Documentary
India’s leading New Age News Brand set to take Television by storm

New-age digital brand is about to take the television screens by storm.

Television TV Channels News Broadcasting

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories