PAWHUSKA, Okla. (AP) – The Osage Nation has finalized a $ 74 million deal to purchase CNN founder Ted Turner’s ranch west of Pawhuska.

The Tulsa World reports that the purchase of the property that covers 43,000 acres of prairie, where Turner experimented with environmentally friendly ranching methods, was finalized on Wednesday.

Officials say the tribe will continue to operate the ranch as a for-profit business. The purchase is part of Chief Geoffrey Standing Bear’s effort to buy as much land as possible in Osage County. The tribe once owned nearly 1.5 million acres before the land was divided and distributed among individual tribe members in the early 1990s.

In a letter to Standing Bear, Turner said that he had hoped that the tribe would become the new owner of the property.

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Information from: Tulsa World, http://www.tulsaworld.com