The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

Axel Springer agrees to buy 25% of Dogan TV.

Axel Springer agrees to buy 25% of Dogan TV. Dogan Yayin Holding announced that Axel Springer, a German media company, agreed to buy a 25% stake in Dogan TV for EUR 375mn (USD 480mn). Axel Springer will be represented with two members in the company’s seven-member board. The transaction will be finalized after Axel Springer completes due diligence and necessary permissions are obtained. Axel Springer will make the payment in one instalment. Competition in the Turkish media sector has intensified. Last year, Dogan TV acquired Star TV, privatized by Saving Deposit Insurance Fund (SDIF), for USD 305.6mn. In July, US-based News Corporation and Ahmet Ertegun, chairman of Atlantic Records, bought major stake in TGRT TV for USD 82mn. According to reports from local media this week, Canwest is also holding talks for Cukurova Group’s media companies, namely the daily Aksam and Show TV. Reportedly CanWest wants to buy the entire stake in Aksam and 20% of Show TV. CanWest had purchased four radio channels that were previously owned by Uzan Group from the SDIF.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree