Technology Al Jazeera close to acquiring Digiturk

Al Jazeera close to acquiring Digiturk


(AA) – Qatari-based television network Al Jazeera is in advanced negotiations to buy Turkish satellite network Digiturk, according to media reports.

Al Jazeera subsidiary BeIN Media Group is reportedly close to finalizing the deal.

The BeIN sports network would reportedly benefit from synergies with Digiturk channels.

Digiturk, which has broadcasting rights for Turkey’s top soccer league until the end of the 2016-2017 season, is 53 percent owned by Turkey’s Cukurova Holding and 47 percent owned by U.S. private equity group Providence Equity Partners.

Cukurova, a holding 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. The fund declined to comment on the report.

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