Complex sentence: By 1988, however, Crockett's acquisition spree had severely drained his coffers, and he was forced to sell the company to Ted Turner, whose TBS aired JCP television programs.
Split into simpler sentences: By 1988, Crockett's acquisition spree had severely drained his coffers. As a result, he was forced to sell his company to Ted Turner, whose TBS aired JCP television programs.