The Doğan Media Group sold to pro-government media company
The Doğan Media Group, including newspapers Hürriyet, Posta and Fanatik and TV channels Kanal D and CNN Türk, has been sold to pro-government businessman Erdoğan Demirören, according to the information received from media. The sale, news sources said, was carried out for $1.25 billion.
The Turkish publisher of titles including Hürriyet, Hürriyet Daily News, Posta, Fanatik, CNN Türk, Kanal D and one of the biggest marketing company YAY-SAT has been sold to pro-government businessman Erdoğan Demirören for $1.25 billion.
The Demirören Media Group, which includes the Milliyet and Vatan papers, has become the largest media sector after turnover.
Doğan Media Group was established in 1997 to bring together Doğan's media properties. These include the Posta, Hürriyet, Hürriyet Daily News, Fanatik, the television channels Kanal D and CNN Türk, and the Doğan News Agency. It also operated Doğan Kitap, a major book publisher, and Doğan Music Company, a major music label. Doğan also operated print facilities and media distribution, for other newspapers and magazines as well as its own.
Shares of Dogan Holding jumped more than 17 percent to 0.85 lira and its newspaper arm, Hurriyet Gazetecilik, rose 19 percent to 1.22 lira.
Pro-Erdogan group agrees to buy owner of Turkey's Hurriyet, CNN Turk
Turkey’s Demiroren Holding, an unlisted firm seen as backing President Tayyip Erdogan, has agreed to buy the respected Hurriyet newspaper and broadcaster CNN Turk, an official said, a deal that could further cement media support for the government.
Demiroren, which already owns two pro-government newspapers, has agreed to buy the media arm of Dogan Holding, a Demiroren official told Reuters, declining to be identified because the deal has not yet been made public.
The official did not give a price for the transaction, adding it would be officially announced later on Wednesday.
“The talks are progressing and an agreement has been made on the acquisition,” the official said.