Ted Turner, media mogul who revolutionised TV news by launching CNN, dies at 879 minutes agoIan YoungsCulture reporterGetty ImagesMedia mogul Ted Turner, who pioneered the modern 24-hour news culture when he launched the CNN channel, has died at the age of 87, the network has announced.
Losses driven largely by depreciation of cryptocurrency assets as prices of digital currencies tumble.The parent company of Donald Trump’s social media platform, Truth Social, has reported a loss of more than $400m in the first quarter of 2026, driven largely by the slumping value of cryptocurrency assets.A March 31 company filing shows that Trump Media and Technology Group (TMTG) reported revenue of about $870,000 for the first three months of the year, with a six percent rise in net sales.Recommended Stories list of 3 itemslist 1 of 3Trump announces three-day ceasefire in Russia-Ukraine warlist 2 of 3Trump halts Hormuz operation, cites ‘great progress’ in Iran talkslist 3 of 3Trump sets July 4 deadline for EU tariff hike decisionend of listHowever, it had hefty losses related to some of its investments, notably a significant buy in cryptocurrency.The US president, a prolific social media user who often uses the platform to announce policy changes or lash out at enemies, controls about 41 percent of the company’s shares, via a trust that manages his financial interests while he is in office.Trump launched Truth Social after he was banned by most major social media platforms following his 2020 election loss to US President Joe Biden and the resulting riot by his supporters at the US Capitol on January 6, 2021.TMTG’s Interim chief executive officer Kevin McGurn said in a statement that the company “is using its strong balance sheet and positive operating cash flow to continue growing all our businesses and platform infrastructure”.The company stated last year that it had raised $2.5bn to invest in cryptocurrencies, but the sector has experienced declining prices. That is despite initial optimism within the industry that the Trump administration would boost its prospects with a favourable regulatory environment.The price of Bitcoin dropped from $126,000 in October to $70,000 in March, before rising slightly to about $80,000.TMTG said in the filing that the “vast bulk” of losses were due to digital assets, and that it will continue “to focus on expanding its infrastructure and audience to prepare for future monetised features”.McGurn likewise stated that Truth Social was a “bastion of free speech with innovative enhancements coming soon”.TMTG is pursuing a merger with the US company TAE Technologies, which is focused on the development of nuclear fusion technology.Researchers hope that nuclear fusion could become a source of limitless energy, but it continues to require more energy than it produces.“Even as we work toward advancing our proposed merger with TAE Technologies as quickly as possible, we’re identifying new growth opportunities and new ways to increase shareholder value,” McGurn said.Trump has remained a daily fixture on Truth Social throughout his presidency, often offering a kaleidoscope of official announcements, as well as personal grievances and commentary.On Friday, he used the site to announce a three-day pause in fighting amid Russia’s invasion of Ukraine, minutes after touting his administration’s move to declassify government documents related to unidentified flying objects (UFOs).Hours later, he used the platform to claim public support for the US-Israeli war with Iran and re-post an article from January detailing an FBI raid on an election centre in Georgia.
Ted Turner, media mogul who revolutionised TV news by launching CNN, dies at 879 minutes agoIan YoungsCulture reporterGetty ImagesMedia mogul Ted Turner, who pioneered the modern 24-hour news culture when he launched the CNN channel, has died at the age of 87, the network has announced.In 1980, Turner launched Cable News Network as the first dedicated rolling news channel, which soon became a central part of the media landscape.US President Donald Trump paid tribute to him as "one of the greats of broadcast history, and a friend of mine".Current CNN CEO and chairman Mark Thompson described Turner as "the giant on whose shoulders we stand, and we will all take a moment today to recognise him and his impact on our lives and the world".BBC asks Ted Turner if a 24-hour news cycle is a good thingIn a statement, Thompson said: "Ted was an intensely involved and committed leader, intrepid, fearless and always willing to back a hunch and trust his own judgement."He was and always will be the presiding spirit of CNN."President Trump has been a fierce critic of the current CNN, but said of Turner: "Whenever I needed him, he was there, always willing to fight for a good cause!"CNN initially faced scepticism and struggles - being mocked as the "Chicken Noodle Network" in its early years by those who thought it would not succeed.But the channel proved its worth by providing speedy and continuous updates of stories like the assassination attempt on US President Ronald Reagan in 1981, and the Challenger space shuttle disaster in 1986.The network truly came of age with its live rolling coverage from Iraq during the 1990-1991 Gulf War.President George Bush once said he learned more from CNN than he did from the CIA.CNN founding team member Mary Alice Williams told the BBC on Wednesday that Turner was "a wild man" and "a go-for-broke idea guy".She credited him with creating a network "that could connect the whole world so we could all see each other, so we could see that we shared common struggles and we could share practical solutions in the whole in the hope that maybe, just maybe, there was a chance at peace in this troubled world.""I know it sounds naive, maybe even far-fetched, but CNN was founded on that belief, and we all bought into it," Williams said.CNN's success led other news channels to follow, such as Fox News, launched in 1996 by Turner's long-time rival Rupert Murdoch.But CNN was far from Turner's only outlet. He began his career by taking over the successful family billboard company when his father took his own life, then bought a radio station in Atlanta, Georgia.Within a decade, that station had become the foundation of the Turner Broadcasting System (TBS) and its boss was one of the biggest media moguls in the US.He was also known for his brash personality, which earned him the nicknames "the Mouth of the South" and "Captain Outrageous".He even lived in CNN's headquarters for a number of years, often walking around the newsroom in his bath robe, "eager to debate the day's news", Thompson said.Getty ImagesBeyond the media, Turner was a world-class yachtsman, winning the America's Cup in 1977. In 1983, a Murdoch-sponsored yacht collided with Turner's boat in an Australian race, which led Turner to challenge Murdoch to a fist fight.Turner also owned sport properties including the Atlanta Braves baseball team, Atlanta Hawks basketball team and Atlanta Thrashers ice hockey team.He also became a major philanthropist, donating $1bn to the United Nations and millions more to environmental causes, and promoted and invested in clean energy.He was married to actress Jane Fonda from 1991 until 2001.In 2018, Turner revealed he had Lewy body dementia, a degenerative nerve disease.Getty ImagesTurner was married to actress Jane Fonda for a decade'Unstoppable media revolution'Long-serving CNN correspondent Christiane Amanpour was among those paying tribute, writing on X: "Just remember when giants strode the world."Ted Turner created an unst
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