COMPANY TOWN ANNEX

Turner Buys Remaining 50% Stake in Hanna-Barbera: Turner Broadcasting System Inc. agreed to buy out the Apollo Investment Fund’s stake in a transaction valued at $255 million. In December, 1991, Turner and Apollo acquired the Hanna-Barbera animation library, with each taking a 50% stake. Turner used the firm’s classic television programs such as “The Flintstones,” “Scooby Doo,” “Yogi Bear” and “The Jetsons” to launch his highly successful Cartoon Network, cable television’s 24-hour, all-animation station. Hanna-Barbera also produces movies, distributes home video products and licenses its characters for consumer products.