Turner Loses Bid to Block CBS

Entrepreneur Ted Turner lost a federal court bid today to block a recapitalization move by CBS Inc. that he claimed was designed to foil his attempt to take over the network.

The decision by U.S. District Judge Robert L. Vining Jr. was the second loss of the day for Turner, chairman of the Atlanta-based Turner Broadcasting System. Earlier, the Federal Communications Commission rejected a separate attempt by Turner to block the proposed CBS buy-back of 21% of its own stock.