NEW YORK, May 6 (Xinhua) -- CNN founder Ted Turner has died at age 87, the news network announced Wednesday.

Ted Turner speaks during the CNN World Report Contributors banquet in Atlanta on May 4, 1995. (Photo: AP)

"Ted was an intensely involved and committed leader, intrepid, fearless and always willing to back a hunch and trust his own judgement," CNN Chairman Mark Thompson said in a statement. "He was and always will be the presiding spirit of CNN."

Born in Ohio, Turner bought a television station in 1970 and turned it into a media empire that encompassed cable's first superstation and popular channels, CNN said.

Turner became one of the most powerful figures in U.S. media and entertainment, with his networks specializing in news, sports and old movies.

In 1991, Turner was named Time magazine's Man of the Year for "influencing the dynamic of events and turning viewers in 150 countries into instant witnesses of history."

Turner eventually sold his networks to Time Warner and later exited the business.

In September 2018 Turner revealed that he had Lewy body dementia, a progressive brain disorder.