News Corp has reportedly pulled out a move to acquire a stake in Turkish media group Dogan Yayin after the price rose too high. The news comes as a number of international media firms including Time Warner and Germany’s RTL Group have also reportedly expressed an interest in acquiring assets from the Turkish company, which operates a number of free-to-air and pay TV stations. â¨
This comes as the company is embroiled in a tax dispute with the country’s government; it is looking to raise US$2.5bn (Â1.8bn) to cover the fines if it loses a legal battle to have them overturned. â¨
Dogan has hired investment bank Goldman Sachs to advise it on sale options, although many analysts believe that it might not reach a sale until a new law is introduced that changes the status of foreign ownership for media companies.
A new law is expected to be passed by the end of the year that would lift the foreign ownership cap on media assets from 25% to 50%. â¨Dogan has issued a statement to the Istanbul Stock Exchange that noted its sales process was continuing, but that there were “no new developments”.
Azam TV migrates to Eutelsat 7C and signs multi-year extension digitaltveurope.com/2020/09/22/aza…
22 September 2020 @ 15:09:00 UTC
Disney-owned Fox Sports will reportedly cease to operate in Taiwan by the end of the year digitaltveurope.com/2020/09/22/dis… https://t.co/eEGeq4Gbhl
22 September 2020 @ 14:00:00 UTC
Starzplay experiences 141% growth in lockdown digitaltveurope.com/2020/09/22/sta… https://t.co/QZwGu4KTOd
22 September 2020 @ 13:30:00 UTC