• by Wayne Friedman , Staff Writer, 6 hours ago

Now, as Paramount Skydance nears completion of its $111 billion deal to buy Warner Bros. Discovery, we focus in on three key TV brands at the core of the company: CNN, TBS and TNT.

These networks came via media mogul Ted Turner in the 1980s. We reflect on this as Turner died this week.

Turner was a key figure in and owner of the budding cable TV network business -- giving modern TV business of the time some necessary and high-profile spin.

He took creative chances that had cultural impact -- taking big risks, in particular with its nascent CNN, which started up in 1980.

This also included taking the small Atlanta local TV station and converting it into a "Superstation TBS" as a cable network seen on cable TV systems. Then in 1988, he started up TNT. This all wrapped into the Turner Broadcasting company.

Turner navigated turbulent waters throughout his ownership, including a moment where in the early 80s he was close to pulling the plug on CNN.

Back then, Satellite News Channel as a joint venture between the ABC Video Enterprises unit of ABC and the Group W Satellite Communications (part of Westinghouse Broadcasting) -- which launched in 1982 -- was seemingly gaining ground.

A year later, as the story goes, Turner was close to making a tough decision in stopping the then financially troubled CNN. In October 1983, somewhat unexpectedly after 16 months of operation, Satellite News Channel stopped its news channel operation.

That saved the day for Turner in terms of being the lone major cable news channel around and could benefit from those additional advertising and cable network carriage fee revenues that had been going to its main competitor.

Turner’s lasting legacy continues to the present for CNN -- even as Paramount mulls how it could combine CNN with CBS.

Paramount needs to find a way to easily navigate this path going forward. For years, CNN has been, and continues to be, a thorn in the side of President Trump.

On Wednesday, David Zaslav, CEO of WBD said about CNNs founder: “Ted Turner changed our industry forever. I’m grateful for his courage, his imagination and the lasting mark he leaves on Warner Bros. Discovery and the world.”

And it's not just Zaslav and Paramount thinking about CNN these days and its legacy.

Just this week another high profile/legendary TV executive of the time, Barry Diller, who started up the Fox Television Network, weighed in on CNN now moving over to Paramount.

At an event by The Wall Street Journal he said he would absolutely consider buying it with “tonight and tomorrow” if it was available.

Diller said CNN has amazing potential -- and is “so ripe” for innovation.

You have Ted Turner to thank for that.