Competition authority approves sale of Doğan’s media assets to Demirören

ISTANBUL

Turkey’s Competition Board on May 7 approved the sale of Doğan Holding’s visual and print media components to Demirören Holding, Doğan Holding has said in a statement to the Public Disclosure Platform (KAP).

Doğan Holding had on March 22 first announced the talks with Demirören Holding for the sale and transfer of its visual and print media components for an operating value of $1.1 billion and a share value of $890 million.

Doğan Group honorary chairman Aydın Doğan bid farewell to staff at Hürriyet’s Istanbul headquarters on April 6, following the announcement of the sale.

Aydın Doğan symbolically marked the transition of Hürriyet to the Demirören Group on April 9, as the sale of the holding’s media assets was finalized.

The handover ceremony hosted Doğan, Demirören Holding board deputy chair Yıldırım Demirören, his wife Revna Demirören and their children, Demirören Holding board members Meltem Demirören Oktay and Tayfun Demirören and their families, and Demirören Holding executive board chair of media Mehmet Soysal.

Staff members and executives of Hürriyet were also present at the ceremony.