The merger of Lorimar-Telepictures was announced on October 7, 1985 by Merv Adelson. On April 21, 1986, the merger was complete. Lee Rich, one of the founders of Lorimar sold his shares in 1986 and left the company. On January 11, 1989, Warner Communications acquired Lorimar-Telepictures after shaking off the hostile takeover of the company.