Al Jazeera homes in on Digiturk
March 26, 2015
beIN Media Group, an affiliate of Qatar’s Al Jazeera, is reportedly in advanced negotiations to buy Turkish satellite network Digiturk.
beIN Media Group, which runs the beIN sports network of channels operating in Asia, Europe and the US, has yet to finalise the acquisition, but a deal could be finalised in the next couple of weeks
Digiturk, which has broadcasting rights for Turkey’s top football league until the end of the 2016-2017 season, is 53 per cent owned by Turkey’s Cukurova Holding and 47 per cent owned by US private equity group Providence Equity Partners.
Cukurova, the cash-strapped company controlled by Turkish businessman Mehmet Emin Karamehmet, had its Digiturk stake seized in 2013 by Turkey’s Savings Deposit Insurance Fund (TMSF) because of its debts to the state agency.