Turner film unit for sale

Turner Broadcasting System Inc says its Castle Rock Entertainment film division is effectively for sale, The New York Times reports. Turner had taken write-offs for four consecutive quarters and Castle Rock had failed to make a profit for two years, people close to the company were quoted as saying. Castle Rock chairman Alan Horn said the company had not hired an investment banker, but had started receiving inquiries from buyers late last year. He said Turner chairman Ted Turner had agreed to the discussions. 'I'd like to find a buyer relatively soon,' Mr Horn said, but would not name potential bidders.