Is Ted Turner playing cowboy or hogging land?

updated 7:54 p.m. ET Nov. 28, 2007

MULLEN, Neb. - Ted Turner's men did not flinch. As the price climbed past $8 million, $9 million, $9.5 million, they continued bidding at a rapid-fire pace.

When the auction was over, they walked away with what they came for: 26,300 acres of prime ranch land, at a cost of nearly $10 million.

"It hasn't taken long to find out he's serious," said Duane Kime, a rancher and Turner neighbor who was outbid by about $100,000 by the CNN founder.

But what exactly is Turner serious about?

The question gnaws at folks here and in other rural areas of the U.S. where people once thought the billionaire just wanted to play cowboy.

Turner has amassed 2 million acres over the past two decades to become the largest private landowner in the United States. He owns land in at least nine states, with most of his holdings in New Mexico, Nebraska, Montana and South Dakota, and is restoring buffalo, cutthroat trout, wolves, black-footed ferrets and other flora and fauna that filled the Plains before the West was won.

His front men say their boss does not have a secret agenda — he just wants to be a rancher. But each big buy only heightens the anxiety and gives rise to conspiracy theories, the most ominous of which hold that the swashbuckling Atlanta executive is bent on putting Nebraska ranchers and farmers out of business.

"With him it's such a concern," said Cindy Weller, who lives on the family ranch near Mullen. "You don't know what his plan is and what he's going to do."

Among the theories: Turner is trying to corner the land over the Ogallala Aquifer, the world's largest underground water system, to gain power in the water-starved West.

Or: He is scheming, perhaps with the United Nations, to create a vast wildlife refuge and turn it over to the U.S. government, removing the land from Nebraska's tax rolls. That could hurt Nebraska schools and other services, which are already starved for cash.

"The entire way of life here is threatened, and it's not just Turner, but he's one reason. The whole area is economically depressed," Weller said.

Mike Phillips, executive director of the Turner Endangered Species Fund, a Turner offshoot, insisted his boss is just a "doggone serious rancher," though one dedicated to preserving the environment.

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