COMPANY TOWN ANNEX

TCI Reportedly Won’t Buy Time Warner’s Turner Stake: Tele-Communications Inc. said it will not buy Time Warner Inc.’s 19.4% stake in Turner Broadcasting System Inc., according to an executive familiar with the situation. The decision could hurt the efforts of Turner Chairman Ted Turner to buy a major broadcast network. TBS, based in Atlanta, was seeking an accord that would free it to buy a TV network. It has been prevented from buying a TV network because of objections from Time Warner, a New York media company. Time Warner has said it wants to sell its stake in TBS in part to pare an $18-billion debt. Englewood, Colo.-based TCI is the nation’s largest operator of cable TV systems.