BILL HEMMER, CNN ANCHOR: Today's "CNN 20" segment, a look back at the CNN/Time Warner merger announced five years ago today.</s>BOBBIE BATTISTA, CNN ANCHOR: Ted Turner of Turner Broadcasting and Gerald Levin of Time Warner today announced the $7.5 billion plan to create the world's largest media company.</s>GERALD LEVIN, CHAIRMAN, TIME WARNER: Everything worked out fine.</s>QUESTION: Mr. Turner, how do you fell?</s>TED TURNER, CHAIRMAN, TURNER BROADCASTING: I feel great!</s>STEVE YOUNG, CNN CORRESPONDENT: When you combine two corporate cultures, very different, one based in Atlanta, one based in New York, there will be friction. But certainly, everybody was high-fiving that day.</s>TURNER: We've always been very small, fighting against the big guys, and you know, you only live once, and I really am looking forward to experience what it's like to have some muscle on our bones for a change.</s>YOUNG (voice-over): Time Warner, which already has HBO, Warner Music, and "Time" magazine, adds New Line Cinema, the Atlanta Braves, and</s>CNN. LEVIN: When you have that kind of library power and production that refreshes those libraries in back of these networks, which are worldwide brands, then we have an opportunity that no other company has.</s>YOUNG: Ted Turner loses absolute control of his company, but becomes Time Warner's vice chairman and its biggest shareholder.</s>TURNER: Gives the chance to see the world from a different place, you know, instead of from the basement, from the penthouse.
CNN 20: Time Warner/Turner Merger, September 22, 1995