COMPANY TOWN ANNEX

Ted Turner Reportedly Resumes Network Talks: The negotiations are reportedly to merge Turner’s cable television company with one of the Big Three broadcast networks. The chairman of Turner Broadcasting Inc. met this week with top executives from all three of the major networks: General Electric Co.’s NBC, CBS Inc. and Capital Cities/ABC Inc.’s ABC, people familiar with the talks said. Turner has been trying to buy a network for the past decade. One of the key reasons Turner is again speaking with the networks is that Turner Broadcasting and Tele-Communications Inc. are getting closer to settling on a price for buying Time Warner Inc.’s 19.4% stake in Turner Broadcasting. New York-based Time Warner is asking for $1.6 billion, or $30 a share--a 65% premium to the current stock price, according to executives familiar with the discussions.