TW, Turner counsel caution

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Time Warner and Turner Broadcasting System issued a cautionary note Wednesday following news that the two companies are discussing a merger. "Significant issues remain to be negotiated," the companies said, "and there can be no assurance that agreement will be reached or a transaction consummated." Their statement said discussions concern an exchange of Time Warner stock for Turner Broadcasting stock, following which Turner would become a subsidiary of Time Warner.

Copyright August 1995, Crain Communcations Inc.

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