One of Turkey’s largest media corporation, Doğan Media Group led by Turkish media magnate Aydın Doğan, announced that it is currently in talks to sell its newspaper and television businesses to another Turkish conglomerate, Demirören Holding, for $1.1 billion.
As reported by the Hurriyet Daily News, the company, in a statement to the Public Disclosure Platform of the Istanbul stock exchange stated: “We have initiated talks regarding the sale of all of our components, which operate in the print and visual media, on an operating value of $1.1 billion and a share value of $890 million.
“These components include YAYSAT, which performs the distribution of media and non-media products, Doğan Publishing [Posta, Fanatik], Doğan News Agency, Doğan TV Holding, DTV News and Visual Broadcasting, Doruk TV and Radio Broadcasting [CNN Türk], Hürriyet Publishing and Printing, and Mozaik Communication Services [D-Smart].”
Dogan Holding, which is owned by Aydin Dogan, includes operations in the energy, retail and manufacturing and has been present in Turkey’s media industry since 1979. Demirören was established by Erdogan Demirören in 1956 and is active in the energy, manufacturing, tourism and real estate sectors.