In 1979, Ted Turner bought a 4,680-acre South Carolina barrier island to prevent development; 38 years later he sold it to the state for $4.9 million, about one-third of its appraised value, and it became state parkland

• American media mogul Ted Turner has completed the sale of St Phillips Island, a pristine 4,680-acre barrier island off the coast of South Carolina, to the state government for a small part of its market value.
• The deal transfers ownership of the untouched coastal island to the South Carolina Department of Parks, Recreation and Tourism for $4.9 million.
• The purchase price is about one-third of the property’s appraised market value of $14.9 million.