There’s a bidding war breaking out to control Turkey’s Calik Holdings, the nation’s second-largest media group with extensive TV and print investments. Calik owns Sabah-ATV, which it bought in 2007 for $1.1 billion.
Reports are that Calik is seeking $1.25 billion for its media assets. Already Time Warner’s name is in the frame, as well as News Corp, both of whom are reported to be bidding but only about $1 billion. Private equity outfit Texas Pacific Group is also said to be interested.
Other media groups said to be interested – or who might be players – include ProSieben and RTL. Deadline for proposals is today, with a speedy wrap to the process which Calik wants to conclude by the end of February, subject to due diligence of course.