Doğan Group announces talks to sell its media assets

Doğan Holding, which owns the Hürriyet Daily News among a number of media outlets in Turkey, stated on March 22 that it had started talks with Demirören Holding on the sale and transfer of its visual and print media components.

“We have initiated talks regarding the sale of all of our components, which operate in the print and visual media, on an operating value of $1.1 billion and a share value of $890 million,” it said in a March 22 announcement to the Public Disclosure Platform of the Istanbul stock exchange.

“These components include YAYSAT, which performs the distribution of media and non-media products, Doğan Publishing [Posta, Fanatik], Doğan News Agency, Doğan TV Holding, DTV News and Visual Broadcasting, Doruk TV and Radio Broadcasting [CNN Türk], Hürriyet Publishing and Printing, and Mozaik Communication Services [D-Smart],” it added.

Upon developments regarding the sale, Doğan Holding will notify the public within the scope of the relevant legislation.

Shares in Doğan and Hürriyet both jumped by the session limit of 19.5 percent at the start of trade, after rising a similar amount one day earlier.

Hürriyet subsequently trimmed its gains and was 8.1 percent higher at 1.33 lira at 0721 GMT, while Dogan was up 18.4 percent at 1.03 lira.

Speaking on March 22, main opposition Republican People’s Party (CHP) Deputy Parliamentary Group Chair Özgür Özel said the competition board should not approve the sale “if makes a correct and impartial decision.”