TIME <TL> IN TALKS ON CABLE NEWS CONSORTIUM N.J. Nicholas Jr., president and chief operating officer of Time Inc, told security analysts the company is now engaged in talks to join a consortium of cable companies that will invest in Cable News Network. Nicholas declined to give any details, but said an announcement might be ready in a few days. He also declined to say whether the investment would be made by Time Inc or American Television and Communications Corp, a public company in which Time owns a majority stake. Cable News Network is owned by Turner Broadcasting System <TBS>.