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Ted Turner may sell assets to pay for MGM/UA.

The Turner Broadcasting System chairman said he is considering selling unspecified assets to raise $600 million to reduce debt associated with the purchase of MGM/UA Entertainment. The $1.4-billion acquisition was primarily funded with high-yield, high-risk “junk” bonds. Turner told security analysts that his company would have no trouble paying for the MGM debt, although he acknowledged that Turner Broadcasting’s cash flow won’t cover debt service costs.


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