Turner to Sell $50 Million in AOL Time Warner Shares

AOL Time Warner Inc. Vice Chairman Ted Turner plans to sell 1 million shares of the world’s largest media and entertainment company, for about $50 million. Turner disclosed his plans in a Feb. 15 Securities and Exchange Commission filing that was made public Tuesday. He acquired the shares in January as part of the merger between America Online Inc. and Time Warner Inc.

Turner has sold some of his stock as part of a $1-billion pledge to the United Nations. AOL Time Warner Chairman Steve Case recently sold $50 million in shares.