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BeIN Media reportedly close to buying Digitürk

Digiturk logoAl Jazeera-owned BeIN Media Group, which operates the sports networks of the same name, is in advanced talks to buy Turkish pay TV operator Digitürk, according to Reuters, citing three sources familiar with the talks.

Reuters reported that the talks are at an advanced state but have not yet been finalized, with the possibility that a deal may be concluded within the next couple of weeks.

Digitürk is 53% owned by struggling local media group Çukurova Holding and 47% owned by Providence Equity Partners. The Turkish state-owned Savings Deposit Insurance Fund (TMSF) seized control of Çukurova’s stake in the operator in 2013 after the latter failed to make debt payments. TMSF subsequently entered into talks with the Providence to sell the operator.