Time Warner, News Corp. and private equity group TPG are each said to have made bids in the $1 billion range for the media assets of Turkey’s Calik Holding. The country’s second largest media group has interests in television and print both nationally and internationally via Sabah-ATV which it acquired in 2007 for $1.1 billion. Calik had been seeking offers of around $1.25 billion, The Financial Times reported. Other groups expected to show interest in Calik’s media assets could include ProSieben and RTL, although the deadline for pre-proposals is Tuesday. The Turkish conglomerate put its media assets on the block earlier this month eyeing a completed sale in February. TPG is said to be an aggressive bidder while speculation is that the emergence of Rupert Murdoch’s News Corp. as a potential buyer could drive the price up. In 2006, News Corp. acquired a majority stake in Turkish TV channel Turkish Huzur Radyo TV which was then rebranded under the Fox banner.
Time Warner, News Corp. Said To Bid About $1B For Turkish Media Group
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