After more than 40 years of operation, DTVE is closing its doors and our website will no longer be updated daily. Thank you for all of your support.
Axel Springer pulls out of Dogan deal
German media company Axel Springer has backed out of a deal to acquire a stake in Turkish media company Dogan Yayin.
The German firm was looking to purchase a 29% stake in Dogan Yayin, which operates a pay-TV service, broadcast networks as well as the Turkish version of CNN, but pulled out after it was unable to resolve a US$3.3bn (2.2bn) tax dispute with the Turkish government. However, Axel Springer said that it would reconsider the deal once the dispute was settled.