Established in 1998 in NY - Founded by R.E. "Ted" Turner III, the businessman and activist who founded cable television network CNN in 1980, which became the first dedicated 24-hour cable news channel. Turner also founded the cable channels TNT (in 1998), and Turner Classic Movies (in 1994). In 1986 he established Turner Entertainment Co. to oversee film properties that he owned, and also started Turner Broadcasting System, Inc. (TBS) which is the company managing the collection of cable networks and properties he started in the mid-1970's. In addition, Mr. Turner is the founder of The Goodwill Games, and in 1991 he was named Time Magazine's Man of the Year. In 1998 he made headlines by announcing a $1 billion donation to the United Nations. Ted Turner has committed to The Giving Pledge, and has pledged to give away at least half of his wealth to philanthropy