Ellwood City Ledger from Ellwood City, Pennsylvania • 6

JJOWIIu.lu,llo.u'· NYSE tss, Time Warner approve merger, creatf? world's largest media company ders of Time Warner and Turner Broadcasting System voted overwhelmingly today to approve a $7.5 billion merger creating the world's media and entertainment company. Tumcr Broadcasting shareholders voted 99.75 percent in favor of the dea( about five hours after Time Warner siockholders voted 98.23 percent in favor. "This is a dream," said a triumphant Ted Turner, the founder chairman of Broadcasting who now will become a vice chairman and largest single shareholder in the merged company. here, complete, one team. and one its cable systems.

family," Time Warner Chairman The lawsuit came just one day Gerald Levin said at a after the New York State attorney meeting earlier. general's subpoenaed Time Once the final paperwork on the Warner 10 request documents for its deal is completed later today rea-own inquiry Into whether the com- lly hard work begins. Time Warner pany violated antitrust laws by executives will have to mesh ciding not to run the Fox channel in companies with very different man- New york Stale. agcmcnl cultures -one led by but-The lawsuit should not have any ton-down New Yorker the immediate effect on the deal with other by Turner of" Turner BroadcaSting, but the suit, if Atlanta -but each rich in house-successful, could undo the merger hold names they sell every day. later on.

Some suggested, however. Time Warner's Bugs Bunny, it could simply be a pressure tactic to and Sports Illustrated are as Time Warner to the as Turner's CNN, Atlanta ing table. ss AMEX October 11, 1996 ''Considering 'the difficulties we had with this merger it was quite a job to gel it completed," Turner said after announcing vote that followed a tough antitrust by' the Federal Commission, a lawsuit from partner West Inc. and widespread doubt over Tunier's ability to accept a No. 2 role.

Braves. "II was great timing, creating Street appears at least voc and pressure at the minute," w1th the the said Larry Gerbrandt, a senior pany has been laymg oul. T1mc analyst at Paul Kagan Associates Warner's stock, lethargic much of a media research firm. this decade, has risen abput 10 per- As a condition for the merger, cent in the past two weeks, trading Time Warnel" was required by A VERY RICH MAN Ted Turner, the new vic.e chairman of.Time Warner pumps fist as he walks past a display of Time Warner company logos a meeting Turner Broadcastrng System. shareholders in New York yesterday.

Shareholders from T1me Warner TBS voted approved a 7.5· million merger that creates the largest media company and bnngs some of tfle hottest erties and biggest egos iii business under one roof. (AP Photo), After a final motion was made to adjourn Turner Broadcasting's final shareholder meeting, a tearful Turner this afternoon up 37 1 12 cents at cral al1titrust regulators to carry a Asked after the Time Warner $41.50 a share on the New second all-news channel on some of meeting if he regretted his earlier Stock Exchange. its cable systems, in addition to the remark about Murdoch, Tunier.spid: On Wednesday, Rupert Mur-Turner-owned Cable News Network. "Yes. I should have said he's doch's News Corp.

followed through Fox has argued that Time Warner, to journalism. But an sue Time Warner for the nation's second-largest cable liandisgracetojournalism." operator, violated agreement to Seeking to paint the in a more carry the Fox News Channel and put posiiive light, Levin and Tumer pri- on rival instead. Time vatcly outlined to Wall Street PLEASE GlUE! Ellwood City Ledger original photos now available to our It is not unusual for the Ledger to over 40 pictures of local people and event-s in one week. The pictures are taken by Ledger photographers and appear in the pages on a daily basis. Due to the large volume of request for these original photos we arc now offering them to our readers.

I) 2) 3) Piciures are available on a first come first serve basis. Requests for pictures must be made in person at the Ledger office. No phone calls will be accepted reserve a picture. There is a charge for the original picture. After the original picture is sold reprints are available at for an 8XIO and s9.54 for a 5X7.

All prices include sales tax. After 31 days from the date the original photos appeared in the Ledger they will no longer be available at the rate. To order the 1997 Garfield Day-to-Day Calendar, call 1-800-642-6480 and mention ltbgtr Price s9.95 Warner has denied all along that analysts on Wednesday plans to fur such an agreement had reached. I her cut costs aM a desire to cut debt The battle has personal as well as in half, in part by reducing the legal clements. Tumer and Murdoch pany's cable-system holdings.

are longtime antagonists. as high-Wall Street has been hankering for lighted hy Turner's recent remark such a recipe and recent hints to comparing Murdoch to Adolf Hitler. 'I hal: effect have been driving up He apologized' to one Jewish group. Warner's stock price. but apparently not to Murdoch.

Tlte combined faces Turner. today dismissed tile News numerous other issues, including the Corp. suit as "that frivolous piece of restructuring of its cable partnership junk" and threw another verbal dart wilh West, the telephone Ill Murdoch. pany that owns about one-quarter of Wampum girl. takes in sheep When she was four-years-old Ashley Lynn Jenkins started showing sheep and decided to enter the Lcadline wmpetition at the Buller Fam1Show.

Tile daughter of Janice and Karl Jenkins, Ashley lives on the family farm aloni with her mother, grandparents, Joel and Linda Mariacher Sr and her uncle, Joel Maricher. Her uncle raises Southdown and Targhcc and Ashley was helping to take care of them before deciding to enter the competitions. She won first in the Butler Lcadlinc competition in 1992. She also took first at the Fair that year. In her fifth year of competing.

Ashley took first place at the county fairs in Fayette, Butler, Lawrence, Beaver and Canfield counties. Ashley. now a third grade student al Mohawk Elementary, is looking ahead to next year when she can enter lhc Lawrence County 4-H Sheep Club and go to the lionat. The Leadlinc Competition is judged on breed of the presentation and control of the animal, the appearance of the contestant's costume, as well as the conteslant's appearance and poise. The outfit must he at least 70 percent Ashley wears wool out lit made by her grandmother.

NOT SO SHEEPISH Ashley L.ynn Jenkins of Wampum has several first place finishes at county In Butler, Lawrence, Beaver, Canfield, and Fayette counties with her winning Leadline sheep. Time Warner Entertainment, the partnership that holds the majority of Time Warner's cable systems. The companies also must deal with the unpleasant task of laying off about 1,000 employees whose jobs will become redundant That number could go- higher with the additional cost-cutting suggested Wednesday. The fear of pink slips has been especially jolting to employees at Turner, who until. the merger had seen their ranks grow steadily.

The already active mill in Atlanta no doubt turned faster when it was disclosed Wednesday that son Teddy Turner was among those to be fired. BUsrBS HIGHLIGHTS Retailers post rough n.s;,.nation's retailers had a bumpy but were drawn into the stores by colder weather late mthc month, bolstermg hopes that the Christmas selling season will be reasonably strong. Sales figures released by the big storcowners Thursday varied and, for some stores, from one department to another Some companies were disappointed with their analysts who track the stores' performance nonetheless found strength in the overall trend of the month: Companies that announced stronger numbers included Wal-Mart Scars, Roebuck and Co. and Limited Inc. Nylon maker may go cotton ST.

LOUIS (AP) Monsanto is thinking of stepping out of'nylon and slipping into cotton. Nearly a hundred years after getting its start in the chemicals business. Monsanto sees a brighter future in the fields that arc growing its genetically altered cotton plants. The company said Thursday it is looking at several options for its micals business-from keeping the business and restructuring it to a spin off or outfight sale Judge decides against WSJ SACRAMENTO, Calif. (AP)- A judge barred The Wall Street Joumal from using the name "California Journal" f6fits weekly package of Golden State business and financial news.

The order came Thursday at the request of a monthly political magazin.c based in Sacramento which has published under the name California nal for more than 25 years. Tile Wall Street Journal has its "California Joumal" feature on the past two Wednesdays on several pages inside the Marketplace section. The judge said the could continue to publish the feature, but would have to find another name. Continental orders 60 planes NEW YORK (AP) -Continental Airlines has ordered 60 planes from Boeing Co. to replace aging aircraft in its fleet and help streamline service.

Chairman Gordon Bethune said. The 737-500 and 737-600 planes witl replace 60 less efficicnt737-100s, and DC-9s between July December 1999, the head of the Houston-based airline told industry analysts Thursday in New York. Tile order will reduce the from a average of 14.1 years to 8.2 years nhd reduce from seven to four the number of airemft typeS flown by Continental. Taco Bell gets new boss NEW YORK (AP) -PepsiCo ln'C. named a veteran convenience excciuive to take charge of its struggling Taco Bell restaurants, the leadiug Mexican-style fast-food chain inthe'United States.

The new president and chief executive of the North American Taco sell division will be John F. Antioco, who has top positions o1 the companies that ran the 7-Eicven and Circle convenie11ce store chains. The outgoing Taco Bell leader, John-Martin, has been in.the post 13 years and was placed in charge of PepsiCo's three smaller sit-down restaurant chains. TI1e moves were announced Thursday. Wharton grabs top business school honors NEW YORK (AP)- The Wharton School remains the best place in the nation to a business degree, with the University of Michigan ging over four others to grab second place in a Business Week ranking.

The survey of l)usincss graduates Wld corporate released Thursday found the Un1Vers1ty of Pennsylvania Wharton Schopl outpacing 24 other schools to repent as top-ranked. The last poll was iiJ Nonhwestern University) J.L. Kellogg School of Management slipped a notch to third pl11ce. in stocks Stock prices drifter lower as some signs of economic stirred lingering Inflation worries. The Dow Jones industrial 8.9S tp, 5,921.67.

Tile. dollar finished mixed, gold rose, and bond prices fell. Natural gas prices plunged, leading other energy futures Rflces Soybean and cotton futures prices also fell. I II th fiNob1 Bishop and Jose won th for their 1 troubled Eas were a just to- the copflict i two me prize award of: Indonesian 1 the eastern hal mor in 1975 war. Indonesia rei-national co I 'lets Nov were killec groups said protesters were Bclo has prompting the vestigate the led to the dism and the impri nrfir.crs.

KUUC, Bo fifty feet strai -and wet and th bodies. Some ring position, sl to be 'Serbs. Since last w1 have been exc most gruesome has found so fw They arc I western just before figl ago. Survivors ro.unded up by 1992, and shot. Laniste and a some of the bi the area.

So far, 70 bo from the cave inud4y grass been identified. Workers also tic bags neatly ing a human he It's not were, or how there. TAPP days ago, Jeffl Lillie League loved the school to sec 1 in the opcne Champ On Thursda ptlrnde was when he was television, fete aQd reviled il) Jeffrey's qu ball away from ncsdny and tu tying home run went on to win. I'm as fees," he told 1 The All-Star itThe players The Yankees KABUL, bluer enemies bled In the no11 tary alliWJce 1 Talibnn lslami Nnlwo-thirds It took the the capital 111 government tile country's' together with (urn, who com ltu)jor standing up to Deposed PI Rabbanl, Sh Karim Khalili leader of a sm mailiMuslim: Dostum's hdl Mazar-e-Shari the on Sept. have waged forces ll1s stronghold about90 miles.