(CNN) -- Ted Turner appeared Tuesday on CNN, the network he founded, to talk about last week's election results, his business ventures, and his relationship with ex-wife Jane Fonda.





CNN founder Ted Turner tells the network he's "encouraged" by the results of last week's election.





Turner is promoting a new autobiography, "Call Me Ted" (Warner Books), which documents his life, loves, successes and failures.





Probably best known for his 1980 launch of CNN, the first 24-hour all-news cable network, Turner has also made news as a philanthropist and supporter of the United Nations. He won the America's Cup of yachting in 1977, and owned the Atlanta Braves when they won the World Series in 1995.





Turner discussed the book on CNN's "American Morning." The following is an edited transcript.





CNN: Let me ask you first of all, before we get involved in the actual book and the story of your life: What do you make of the results of this presidential election?





Ted Turner: Well, I'm encouraged. I think we needed change that we can believe in.  Watch Turner talk about his relationship with ex-wife Jane Fonda »





CNN: Is [President-elect Barack Obama] the guy to pull this economy?





Turner: Well, I don't know. I mean, our country in my lifetime has never been in this shape before. So we'll have to see. I think we are really heading into uncharted territory. But I think the main problem is, I hope he doesn't get blamed if things get tough -- because I think they are going to.





CNN: [Obama] seems to be talking about a lot more government involvement in the business community going forward, more government money for an auto industry bailout, another economic stimulus package. As a person who pulled [himself] up in the business community from his bootstraps, is that the way to do it, with more government involvement?





Turner: Well, I don't think so. It was a struggle financing CNN, but I did it without ever asking the government for a nickel. In fact, I gave the government $32 million when they were a little short and couldn't pay the dues to the U.N.





CNN: A lot of people in this economic community losing an awful lot of money, something you know something about.





Turner: I've lost a lot, too. We all have.





CNN: You lost $7 billion when the dot-com bubble burst after the Time Warner-AOL merger. How did you not see the dot-com bubble bursting? How did you not see that that was all built on air?





Turner: Maybe I did, but I was on a board of directors and a founder, and I was concerned about the AOL merger, but we didn't know that the books were cooked. We didn't do enough due diligence.





CNN: Was that the worst business decision of your life?





Turner: Oh yeah. Absolutely.





CNN: If you could go back and do it again, would you have just completely called the whole thing off?





Turner: Well, I couldn't have. At the time, there was so much momentum to do the deal, everybody was for it -- all of Wall Street and the management of both companies. And I wouldn't -- we could have stopped it if we had known of the accounting irregularities. But we didn't know. So there was no way to stop it.





CNN: At about the same time, you were hemorrhaging money at the rate of about $10 million a day over the course of more than two years, your marriage to Jane Fonda broke up. And many people close to you were concerned -- because your father, who passed off his billboard business to you, committed suicide -- that you may follow him down that road.





Turner: I wouldn't do that to my children and grandchildren.





CNN: But
who  expects tough economic times ahead? what did they overlook? who is encouraged by election of Barack Obama? what is name of his ex wife? what makes him encouraged? Ted Turner says he's encouraged by the election of whom?
Turner: the dot-com bubble burst Ted Turner Jane Fonda. results of last week's election. Barack Obama]
question: who  expects tough economic times ahead?, answer: Turner: | question: what did they overlook?, answer: the dot-com bubble burst | question: who is encouraged by election of Barack Obama?, answer: Ted Turner | question: what is name of his ex wife?, answer: Jane Fonda. | question: what makes him encouraged?, answer: results of last week's election. | question: Ted Turner says he's encouraged by the election of whom?, answer: Barack Obama]