ATLANTA — Ted Turner, the brash media mogul who founded CNN and transformed global news consumption with the world’s first 24-hour cable news network, died Wednesday at his Florida home. He was 87.

Turner’s death marks the end of an era for a larger-than-life figure known as the “Mouth of the South.” He built a cable television empire, owned professional sports teams, won the America’s Cup, championed environmental causes and donated $1 billion to the United Nations. His passing comes after a public battle with Lewy body dementia, diagnosed in 2018.

Here are 10 essential things to know about Ted Turner’s remarkable life and enduring impact:

1. He pioneered 24-hour news with CNN’s audacious 1980 launch.

On June 1, 1980, Turner launched Cable News Network from a converted Atlanta mansion. Skeptics mocked the idea of nonstop news, but CNN quickly proved viable. It provided real-time coverage of breaking events, fundamentally changing how the world receives information. Turner called CNN his greatest achievement.

2. Turner turned a billboard business into a media powerhouse.

Born Robert Edward Turner III on Nov. 19, 1938, in Cincinnati, he took over his father’s advertising company after the elder Turner’s 1963 suicide. He acquired a struggling Atlanta UHF station in 1970, renamed it WTBS and transformed it into the first “superstation” via satellite in 1976, beaming programming nationwide.

3. He owned the Atlanta Braves and Hawks, delivering a World Series title.

Turner bought the Braves in 1976 and the Hawks in 1977. His flamboyant ownership boosted the Braves’ popularity through TBS broadcasts. The team won the 1995 World Series under his watch, cementing his sports legacy before he relinquished control in the 1996 Time Warner merger.

4. His “Captain Outrageous” persona defined a swashbuckling style.

A competitive yachtsman, Turner skippered the yacht Courageous to victory in the 1977 America’s Cup. Nicknamed for his bold statements and colorful life, he raced sailboats, dated celebrities and spoke his mind on politics, the environment and media.

5. Philanthropy defined his later years, starting with a $1 billion UN gift.

In 1997, Turner pledged $1 billion to create the United Nations Foundation, supporting global causes. He co-founded the Nuclear Threat Initiative in 2001 with Sen. Sam Nunn to reduce weapons of mass destruction. Turner became one of America’s largest private landowners, owning about 2 million acres for conservation and bison restoration.

6. He created iconic cable networks that shaped entertainment.

Beyond CNN, Turner launched TNT, Cartoon Network, Turner Classic Movies and Headline News. These channels expanded cable’s reach, offering movies, animation and classic films to millions. His Turner Broadcasting System merged with Time Warner in 1996, later becoming part of Warner Bros. Discovery.

7. Personal struggles included multiple marriages and family challenges.

Turner married three times, most notably to actress Jane Fonda from 1991 to 2001. He had five children: Laura Lee, Robert Edward IV, Rhett, Beau and Jennie. His autobiography “Call Me Ted” detailed battles with bipolar disorder and the suicide of his father.

8. Lewy body dementia marked his final chapter.

Turner revealed his diagnosis in 2018, describing symptoms like memory loss. He remained largely out of the public eye in recent years but appeared at events honoring Jimmy Carter in 2021 and his own 85th birthday in 2023. He was hospitalized with pneumonia in early 2025.

9. His net worth reflected booms, busts and enduring wealth.

At his peak, Turner’s fortune exceeded $10 billion. The disastrous AOL-Time Warner merger erased much of it, but Forbes estimated his net worth at about $2.8 billion at death. He retained vast land holdings across several states.

10. Turner’s vision influenced modern media despite later regrets.

He criticized corporate consolidation in media and the shift toward sensationalism. Yet his model of continuous news enabled everything from live war coverage to social media-era information flows. Warner Bros. Discovery CEO David Zaslav called him a “visionary” and “trailblazer.”

A Maverick’s Complicated Legacy

Turner’s story began in Savannah, Georgia, where his family moved when he was young. He attended Brown University, captaining the sailing team, but dropped out. After taking the helm of the family business, he aggressively expanded into television at a time when cable was nascent.

His risk-taking extended to launching CNN amid fierce opposition from broadcast networks. Early CNN staffers recall chaotic yet exhilarating days, with Turner famously declaring “news will be the star.” The network’s coverage of the Gulf War, Tiananmen Square and other events validated his gamble.

Environmentally, Turner focused on sustainability. His ranches emphasized responsible land management and helped revive American bison herds. He advocated for population control and climate action long before they became mainstream.

Critics pointed to his outspoken nature, which sometimes veered into controversy, including remarks on politics and personal life. Yet colleagues remembered his generosity and forward thinking. Former CNN anchors and executives praised his commitment to journalism without the divisiveness seen today.

The merger with Time Warner in 1996 brought immense wealth but cost Turner operational control. He later clashed with leaders and stepped down from the board in 2005. In retirement, he focused on philanthropy and his ranches.

Tributes poured in Wednesday from across the industry. Christiane Amanpour highlighted how Turner changed journalism forever. PBS and NBC segments recalled his bold personality and global influence.

Broader Impact on Society

Turner’s innovations democratized information. Before CNN, news was confined to evening broadcasts. His 24-hour model empowered viewers with constant access, influencing politics, business and public awareness worldwide.

As an environmentalist, his land conservation efforts preserved habitats and promoted biodiversity. The UN Foundation continues his work on global health, women’s rights and climate initiatives.

Family members described a man surrounded by loved ones at his passing at the 29,000-acre Avalon Plantation near Tallahassee. He leaves a complicated but towering legacy: a risk-taker who bet on cable television when few saw its potential and won.

In an industry now dominated by streaming and digital platforms, Turner’s foundational role in cable endures. His story serves as a reminder of how one visionary with bold ideas and relentless drive can reshape culture and communication.

As the world reflects on his life, Turner’s own words from years past resonate: He aimed to build something lasting that served the public. In creating CNN and championing causes beyond profit, he succeeded beyond measure.

Q1: 2026-05-05 Earnings Summary

EPS of $1.91 misses by $0.04

 | Revenue of $585.12M (-54.87% Y/Y) misses by $110.40M

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NEW YORK — The Dow Jones Industrial Average slipped modestly Thursday, closing at 49,828.33, down 82.26 points or 0.16%, as Wall Street took a breather after surging to fresh records the previous session on hopes for a U.S.-Iran peace agreement.

The blue-chip index had rocketed more than 600 points Wednesday to close near 49,911, reclaiming ground lost amid earlier geopolitical jitters. Investors appeared to lock in gains as optimism over de-escalation in the Middle East tempered enthusiasm, even as broader market sentiment remained bullish amid strong corporate earnings and resilient U.S. economic data.

The S&P 500 and Nasdaq Composite also eased slightly after notching all-time highs, reflecting a classic “sell the news” dynamic following intense buying driven by reports that President Donald Trump anticipated an Iran deal possibly before his upcoming summit with Chinese President Xi Jinping.

Geopolitics and Oil in Focus

Tensions in the Middle East have dominated market narratives in recent weeks. A fragile ceasefire between the U.S. and Iran showed signs of holding, with oil prices pulling back from recent spikes. Brent crude eased further Thursday, relieving inflation fears that had weighed on sentiment earlier in the week.

“Markets are pricing in a diplomatic resolution,” said one veteran trader on the floor of the New York Stock Exchange. “But until there’s ink on paper, caution prevails.” Energy stocks, which had lagged during the oil volatility, showed mixed performance as investors weighed the balance between lower commodity prices and potential stability in global supply chains.

The Dow’s proximity to the psychologically significant 50,000 level has captivated investors. The index flirted with that milestone intraday Wednesday before settling just short, marking one of the fastest recoveries from a brief correction earlier in 2026. Year-to-date, the Dow is up roughly 4%, trailing the tech-heavy Nasdaq but demonstrating broad participation from industrial and financial names.

Earnings Season Delivers Positives

Beneath the geopolitical headlines, first-quarter earnings have provided a solid foundation. Major companies across sectors have beaten expectations, with particular strength in technology, industrials and consumer staples. Caterpillar, a Dow component, continued to shine as a bellwether for global infrastructure spending.

Semiconductor and AI-related stocks remained standout performers, extending gains from prior sessions. Nvidia and other chipmakers benefited from ongoing demand for artificial intelligence infrastructure, even as some analysts warned of elevated valuations.

The Federal Reserve’s recent signals have also played a role. With inflation appearing contained despite oil fluctuations, expectations for steady or modestly accommodative policy later in the year have supported risk assets. Bond yields remained relatively stable, with the 10-year Treasury around 4.4%.

Broader Market Context

This week’s action comes after an impressive April for equities. The S&P 500 posted its strongest monthly gain since 2020, closing above 7,200 for the first time, while the Nasdaq set multiple records. The Dow reclaimed the 49,000 level decisively on May 5 amid easing oil prices.

Small-cap stocks, represented by the Russell 2000, have participated unevenly but show signs of catching up as rotation out of mega-cap tech continues in fits and starts. International markets also advanced, with Japan’s Nikkei surging on improved risk appetite.

Yet not all is smooth sailing. Concerns linger over potential trade frictions with China, persistent U.S. budget deficits and the long-term trajectory of interest rates. Some prominent investors, including those echoing Michael Burry’s caution, have flagged bubble risks in select tech segments.

What Lies Ahead

Looking forward, the economic calendar includes more earnings from key Dow names and retail sales data that could gauge consumer health. Any concrete developments on the Iran front could trigger further volatility in energy markets and, by extension, equities.

Analysts remain largely constructive. “We’re in a goldilocks environment where growth is solid, inflation is moderating and geopolitics appear de-escalating,” noted a strategist at a major bank. “The path to 50,000 on the Dow looks increasingly probable in the coming weeks.”

For individual investors, the message is one of measured optimism. Diversification across sectors remains key, particularly as concentration in a handful of AI leaders persists. The Dow’s composition — with its mix of value and growth names — offers a hedge against pure tech exuberance.

Historical Perspective

Reaching these heights represents remarkable resilience. From pandemic lows to today’s near-50,000 territory, the Dow has more than quadrupled in just over six years. Corporate America’s adaptability, technological innovation and accommodative policy have been key drivers.

Critics point to elevated price-to-earnings ratios and warning signs from technical indicators. The so-called Buffett Indicator and other valuation metrics sit at high levels. However, earnings growth has largely kept pace, justifying much of the advance.

Thursday’s modest pullback, while minor in percentage terms, serves as a reminder that markets climb a “wall of worry.” With the Dow hovering near all-time highs, any negative surprise — whether renewed Middle East flare-ups, softer economic data or profit-taking — could prompt sharper moves.

Investor Sentiment and Strategy

Retail participation remains elevated, fueled by easy access to trading apps and optimism around AI. Institutional flows have favored quality stocks with strong balance sheets. Dividend aristocrats within the Dow have provided ballast during volatile periods.

Portfolio managers advise focusing on companies with pricing power, innovation pipelines and global exposure. Sectors like defense, energy infrastructure and financials could benefit from a stabilizing geopolitical backdrop.

As trading wraps up Thursday, the Dow’s slight decline caps a week of impressive gains. Wall Street will reconvene Friday with fresh data and continued watch on diplomatic cables from the Middle East. Whether the index breaks decisively through 50,000 soon may depend as much on headlines from Tehran and Washington as on balance sheets from corporate America.

In the meantime, the resilience on display underscores a market that has repeatedly defied skeptics. From record oil volatility to AI-fueled optimism, 2026 has delivered a masterclass in adaptation. For now, the blue chips rest slightly lower but poised for whatever comes next in an uncertain but opportunity-rich environment.

Two iconic Detroit brands are joining forces to support the workers and industries that keep the U.S. economy running.

Ford Motor Co. and Carhartt on Thursday unveiled a broad collaboration aimed at spotlighting what they call the “essential economy,” including sectors such as construction, manufacturing, public services and the skilled trades. 

The effort brings together product innovation, small business support and local investment in the Motor City.

As part of the partnership, the companies are introducing a new Ford Super Duty Carhartt truck – a Super Duty XLT pickup co-developed by both brands and designed specifically for the “essential workers both companies have served for generations,” according to Ford.

FORD RECALLS OVER 179,000 BRONCO AND RANGER VEHICLES OVER SEAT DEFECT

A Ford Super Duty Carhartt edition pickup truck is parked near agricultural silos. (Ford Motor Company)

“It was really developed from watching the people who wear Carhartt and who drive Super Duties,” Alicia Boler Davis, president of Ford Pro, told FOX Business. 

“When you see the vehicle, and you get in it, it’s going to feel durable, and it’s definitely going to have that Carhart look and feel while still maintaining all the power and durability that we have with our Super Duty truck,” she added.

Ford is also expanding support for small businesses and fleet operators through a new program called “From Our Business to Yours” that extends Ford employee pricing – which is below the Manufacturer’s Suggested Retail Price (MSRP) – to commercial customers.

HOW CUTTING ONE COSTLY HABIT COULD SAVE SMALL BUSINESSES THOUSANDS ON FUEL: EXPERT

“As we were looking at celebrating the 250th anniversary of our country, we thought this would be a great opportunity to give back to the people who have given so much to our country to our communities,” Davis said.

Beyond product and pricing efforts, the companies are investing in Detroit through support for the Detroit ToolBank, a tool-lending nonprofit that provides equipment to local organizations and volunteers.

“We really have this shared value around giving back to our communities and giving back to the people who have given so much for us,” Davis said.

FORD RECALLS NEARLY 1.4 MILLION F-150 PICKUP TRUCKS OVER GEARSHIFT ISSUE

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The announcement follows Ford’s recent launch of its “American Value. For American Values” campaign, a nationwide pricing initiative offering employee pricing to all U.S. customers on most new 2025 and 2026 Ford and Lincoln vehicles through July 6.

“Ford has always believed that American values are more than words – they’re actions,” Andrew Frick, president of Ford Blue and Model e, said in a statement. 

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President Trump has done what no other modern president dared to: use America’s military might to obliterate virtually all of Iran’s capabilities including nuclear state-sponsored terrorism, economic and financial. And I completely support the president in this mission. We could stop now and basically Iran would be out of commission probably for the next 20 years in all of these areas. That, though, raises the question: why stop now? Why not finish the job?

Why are we negotiating with Iran when Mr. Trump should be dictating unconditional surrender terms to whatever Iranian government exists? Here’s what he said on March 7, after a reporter asked him to “give us an idea of what unconditional surrender looks like to you? What do you want from Iran?” Mr. Trump replied: “I said, unconditional, not conditional, I said unconditional. It’s where they cry, uncle. Or when they can’t fight any longer, longer, there’s nobody around to cry out.” Mr. Trump added: “That could happen too, because, you know we’ve wiped out their leadership numerous times already, so if they surrender or if there is nobody around to surrender, but they’re rendered useless in terms of military.”

Additionally, some press organizations are reporting a negotiation over a denuclearized Iran stretching between five years and 20 years, but Mr. Trump has never acknowledged this kind of talk. On April 14 he told the New York Post “I’ve been saying they can’t have nuclear weapons… so, I don’t like the 20 years.” Now after pausing Project Freedom at the Strait of Hormuz, the project may be reopened in the next couple of days.

And I hope it is reopened. I’m hoping America demonstrates complete control over the entire Arabian Gulf including the Strait of Hormuz. And this control is non-negotiable.

Indeed it turns out the president paused Project Freedom because the Saudis and the Kuwaitis were up in arms that our War Department belittled the Iranian attack on the UAE — including hitting a big UAE oil installation — and then our other Gulf allies were quite worried that we wouldn’t defend them either.

Now turns out the pausing of Project Freedom wasn’t really up for negotiating with Iran, or at least that’s what it sounds like, and I sincerely hope that is indeed the case. Now our Gulf allies have lifted their restrictions on the American military’s use of their bases and their airspace after talks with the president and his team.

So we may be back in business in order to bring 50 or 100 commercial ships and oil tankers through the Strait as soon as possible. And we’ll be showing the world, including the three uglies; Communist China, Russia, and North Korea that we do indeed control the entire Gulf of Arabia.

Unfortunately, in the so-called one-page document — which may actually be multiple documents — the president has removed any Iranian response deadline. So this all seems up in the air. Yet the radical Islamic regime, deadline or not, will stall and stall and string us along forever as long as there’s no deadline. We should demand an immediate response and failing that, let the next round of bombing begin. That will obliterate Iran for sure, but we’ll also be broadcasting to that same group of uglies; China, Russia, and North Korea, exactly what American power and fortitude looks like in this terribly important mission to decapitate Iran.