Turner

Strategic Concepts & Mechanics

Strategic PatternFlanking Around Entrenched Giants Identity & CultureLoyalty Bought with Friday Paychecks Relationship LeverageBoard Seats as Reconnaissance Posts Cornerstone MoveSell the Company to Itself — Internal Reverse Takeovers Competitive AdvantageClassified Stock as Control Multiplier Cornerstone MoveFind the Key Man and Close Before Combat Operating PrincipleCash Business Preference from Bus Roots Strategic PatternConcentrated Diversity Over Grab-Bag Portfolios Signature MoveWin Small, Consolidate, Then Leap Geometrically Signature MoveWallpaper-Roll Planning Then Relentless Pressure Cornerstone MoveBuy Cheap Shells, Strip and Reload the Portfolio Operating PrinciplePool-of-Light Negotiation Theater Relationship LeveragePolitical Access Without Political Office Signature MoveDebt as Temporary Tool, Never Permanent Foundation Capital StrategyDividends as Upward Cash Escalator Signature MoveChief of Staff Handles Architecture, Boss Handles Vision Decision FrameworkAcquire Capacity, Never Build in Inflation Signature MovePocket the Stake, Play with Winnings Only Cornerstone MoveEquity Stakes for Distribution Leverage Competitive AdvantageCableLabs Royalty-Free Standards Play Cornerstone MoveStock Architecture to Lock Control Competitive AdvantageBlackout as Franchise Leverage Capital StrategyTax-Sheltered Growing Annuity Capital StrategyInsurance Company Capital Over Banks Signature MoveNever Bet the Whole Farm Strategic PatternWarrants as Industry Coordination Currency Decision FrameworkEmpathy as Negotiation Architecture Signature MoveThrow the Keys on the Table Signature MoveOwn a Small Piece of a Winner You Can't Run Operating PrincipleDecentralized Cowboys with Centralized Benchmarks Risk DoctrineWhat If Not as Decision Filter Strategic PatternScale Economics as Survival Doctrine Signature MoveAsk One Sharp Question to Crack Open Intel Signature MoveCash Flow Not Earnings as Currency Cornerstone MoveBuy the System, Pay With Its Own Cash Flow Identity & CultureIntrovert's Edge Through Listening Cornerstone MoveHidden Value Asset Play Signature MoveLiquidity as Strategic Shield Identity & CultureOwner’s Mentality Over Manager’s Ego Strategic PatternDiversification for Cycle Resilience Cornerstone MoveBuy Low, Fix Fast, Exit Slow Decision FrameworkActivist Investor When Needed Signature MoveQuestion-Driven Discipline Strategic PatternContrarian Patience in Asset Markets Operating PrincipleSpeed Beats Overplanning Risk DoctrineEthics-First Boardroom Interventions Cornerstone MoveStructural Tax Advantage Engineering Signature MoveManagement Autonomy, Command When Needed Signature MoveConviction Without Compromise Operating PrincipleFree Cash Flow as Decision Lens Signature MoveComplexity as Strategic Protection Signature MoveQuality First Spending Philosophy Strategic PatternRegulatory Capture Through Service Cornerstone MoveBack Door Contract Engineering Signature MoveUltra-Delegated Management Style Capital StrategyDebt as Growth Accelerant Relationship LeveragePartnership Through Shared Experience Identity & CultureVirtual Executive Presence Relationship LeverageSilence as Information Weapon Signature MoveFuture-Focused Hiring Standards Cornerstone MoveLeveraged Cash Flow Growth Spirals Signature MoveAnthropological Customer Vision Competitive AdvantageGuerrilla Strategy Against Incumbents

Primary Evidence

"Through North American Recreation Industries, Power formed a partnership with Los Angeles-based National General Corp. (a movie- theatre chain) and the Montreal Bronfman family, with its shopping centre and mall interests, to create the Canadian theatre chain, Na¬ tional General Cinemas. Power under Thomson and Turner had the vision to see the potential of putting smaller-screen theatres into shop¬ ping malls and office buildings, and had seven in place by 1968. Plans were under way for expanding the theatre chain in step with the shopping-mall building craze."

Source:Rising to Power - Paul Desmarais & Power Corporation

"• ⁠ To accomplish these goals, I sketched out a second list: • Retire from TCI. • Reduce outside public board memberships from 11 to 4. • Remain chairman and controlling shareholder in Liberty. • Remain chairman of CableLabs. • Stay on the Turner board. • Get the government off TCI’s back. • Generate predictable income by deferring TCI compensation payments with stock dividends, which should produce sufficient cash to maintain our lifestyle. • Say nothing publicly about the contemplated change until Bob Magness is comfortable."

Source:Born to Be Wired

"“When you’re running a business, you’ve got to run a business,” Tisch said. “You have to make sure that you can survive, whether business gets a little better or a little worse. Maybe Turner would have done the same things. I don’t know. But all three networks have done the same things. We were first was our only problem.”"

Source:The King of Cash: The Inside Story of Laurence Tisch

"Working from a Los Angeles office, Milken had created a $125 billion pool of capital that had helped tiny companies swallow giants and permitted obscure executives to gain control of world-famous busi- nesses. So effective was his operation that a mere statement that Milken believed he could raise a financial war chest in pursuit of a particular corporate quarry—a so-called "highly confident" letter—could cause panic at the company targeted for takeover. Secretive, feared by competitors, and closely monitored by securities regulators, Milken already played an enormous role in the communications industry. During his time at Drexel, he channeled some $26 billion into MCI, McCaw, Metromedia, Viacom, TCI, Time Warner, Turner, Cablevision Systems, News Corporation, and other cable, telecom, wireless, publish- ing, and entertainment companies."

Source:Money From Thin Air - The Story of Craig McCaw

Appears In Volumes

Rising to Power - Paul Desmarais & Power Corporation Born to Be Wired The King of Cash: The Inside Story of Laurence Tisch Money From Thin Air - The Story of Craig McCaw