The FT reports several media and private equity firms are sizing up the assets of Turkey’s biggest media group Dogan Yayin Holding.
It says RTL, Time Warner, as well as KKR and TPG Capital private equity firms are among several companies interested. Dogan Yayin appointed Goldman Sachs to advise on possible asset sales after being hit last year by demands for back taxes and penalties totalling nearly $3.4 billion.
Dogan Yayin is the media unit of the conglomerate Dogan Holding. In September 2009, Turkey’s tax authority imposed a $3.2 billion tax fine over alleged tax irregularities. Dogan has maintained the fines are politically motivated because of its opposition to government policies.