Dogan offers 45.4 pct of TV unit

Hurriyet Daily News with wires

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DMG said it was putting up additional shares in Doğan TV Holding, worth 1.08 billion Turkish Liras ($635 million), after the tax office rejected shares in other Doğan-owned companies, reported Reuters citing the company’s statement to the Istanbul Stock Exchange. Doğan has also offered the brands of some companies it owns as collateral, it said Friday. Doğan has said the tax penalty is part of a politically motivated campaign against the company, after Prime Minister Recep Tayyip Erdoğan accused its newspapers of bias against his government, reported Bloomberg. The tax authorities extended the deadline for DMG to provide valid collateral until the end of yesterday, Star newspaper reported, without saying where it got the information. After that, the company’s assets may be sequestered, the newspaper said.

Meanwhile, Hürriyet Gazetecilik said its free metro newspaper "20dk" is closed as of yesterday. The newspaper, relying on advertisement revenues, was distributed in Istanbul only.

Daily News is a Doğan Media Group publication.