« Doğan TV chairwoman gets leadership award » – Hürriyet Daily News

Doğan TV Holding Chairwoman Arzuhan Doğan Yalçındağ receives her award. DHA photo

« Doğan TV Holding Chairwoman Arzuhan Doğan Yalçındağ, Nurol Holding Deputy Chairman Oğuz Çarmıklı and Tekfen Holding Founding Chairman Ali Nihat Gökyiğit received leadership awards at the ninth Leadership Summit held in Istanbul yesterday.

Speaking at the event Yalçındağ said leadership is a characteristic that one is born with but develops in life. Female leaders are more perfection-seeking while male leaders are more result-focused, Yalçındağ said during a session with TV programmer Cüneyt Özdemir.

“I would like to mention my mother and father, who raised us with the traditions of Anatolia. A leader should be brave, capable of making different decisions and know when to quit.”

“I hate the word postponing,” said Gökyiğit in a session. “A leader never postpones things but addresses them.” Coşkun Çoroğlu said in his opening speech that the meetings within the scope of the Leadership Summit contributed much to the vision of young leader candidates. »

Source : Hürriyet Daily News

 » Comedy ‘Yalan Dünya’ sweeps third Antalya Television Awards  » – Sunday’s Zaman

The cast of the Kanal D comedy “Yalan Dünya” pose for photos at the 3rd Antalya Television Awards. (Photo: AA, source : Sunday's Zaman)

« The Turkish comedy TV show “Yalan Dünya” (Fake World) became the big winner at this year’s Antalya Television Awards on Saturday, taking home five trophies in the comedy category, including best comedy series and best director for a comedy series.

“Yalan Dünya,” which airs every Friday on Kanal D and follows a group of smalltime actors and hipsters living in İstanbul’s upscale Cihangir quarter, also won best actor in a comedy series, best supporting actor and best supporting actress in a comedy series at Saturday’s awards ceremony, aired live on the private television station TV8.

Saturday’s ceremony marked the third edition of the annual awards, a joint venture between the Greater Antalya Municipality and the Antalya Foundation for Culture and Art (AKSAV), who are also the organizers of the southern province’s long-running Altın Portakal (Golden Orange) International Film Festival.

The ceremony also served as an occasion to pay tribute to recently deceased TV scriptwriter and actress Meral Okay, whose immensely popular screenwriting effort “Muhteşem Yüzyıl” (The Magnificent Century) won four prizes, including the best script for a drama series, for the late Okay. The announcement brought tears to the eyes of those in attendance at the packed gala, who commemorated her with a standing ovation, the Anatolia news agency reported. “Muhteşem Yüzyıl,” an account of the intrigue-ridden 16th-century Ottoman court during the reign of Sultan Süleyman the Magnificent aired every Wednesday on Show TV, also won the best director of photography in a series, best art direction in a series and best period drama awards.

Other winners included Kanal D’s “Öyle Bir Geçer Zaman ki” (As Time Goes By), which won best actress in a drama series, best supporting actor and best supporting actress in a drama series and best score for a series; and atv’s “Hayat Devam Ediyor” (Life Goes On), which won the best drama series award.

Veteran radio and TV show host Orhan Boran was honored with the Radio Honor Award but was unable to attend the ceremony to accept his award due to health reasons. Eighty-three-year-old Boran told the gala in a live telephone call that he was honored to be recognized and especially glad he was considered for the award despite having been away from the limelight for more than 10 years. “I am going through a tough battle for my health. Receiving this award has given me an immeasurable morale boost,” he added. »

Source : Sunday’s Zaman

« Content is the king: Hürriyet’s Sabancı » – Hürriyet Daily News

Hürriyet chairwoman Vuslat Doğan Sabancı (C) speaks during a summit in Bursa. DHA photo. Source : Hürriyet

« The leading element in tomorrow’s online media will be content, said Vuslat Doğan Sabancı, chairwoman of Hürriyet newspaper, at the 1st Uludağ Economy Summit in the northwestern province of Bursa over the weekend.

“Publishing content online is relatively easy and open to everyone, but the cost of maintaining permanence is high,” Sabancı said during a panel session on March 17. A good brand, unique content and the technology pave the way for successful media, Sabancı said. “The future of media lies on the Internet; however, the road to that future is full of traps, because remaining permanent in online media is very difficult.”

Doğan Holding, the parent company of Hürriyet, is active in internet media across nine countries in the region. Emphasizing the importance of having a successful brand and unique idea, as well the ability to promote the content in order to have a long-lasting place in the international media arena, Sabancı said the walls between media such as radio, newspapers, magazines and TV have vanished in recent years. “Today, Hürriyet reaches 2 million people with its print versions and an additional 2.2 million readers through its Web site,” she said, noting that approximately 1.5 million readers follow the daily through social media.

As today’s online media offers the ability to reach wide masses of readers, surpassing the conventional distribution channels, content has regained its importance, according to Sabancı. “Apple and others already do the distribution part; what we need to do is to create unique content. I am saying this clearly: Content is king, and our business is content.”

Excluding media competitors based in the U.K., hurriyet.com.tr, Hürriyet’s online news portal, is the biggest of its kind in Europe in terms of access, Sabancı noted. […] »

Source : Hürriyet Daily News

« Star turn » – C21 media


Cem Aydin. Source : C21 Media

« Following its purchase of Star TV last year, Turkey’s Dogus Media Group is focusing on rebuilding the mainstream channel with original and international productions. CEO Cem Aydin spoke to Michael Pickard.

When its plans to add a home-grown mainstream network to its portfolio of thematic channels were stifled by the economic crisis in 2009, Turkey’s Dogus Media Group was forced to put its ambitions on hold.

Its desire to expand remained, however, and the group moved its focus from launching a network to acquiring an existing one. In line with this new strategy, in October 2011, Dogus paid Turkish conglomerate Dogan Media Group US$327m for its entertainment network Star TV.

Dogan originally bought Star for US$306.5m in 2005 after previous owner Uzan Media folded in 2003 with debts of US$6bn. Star joined Dogus’s stable of seven other channels, which run alongside websites, radio stations, magazines and a publishing imprint. The business is part of the wider Dogus Group of 122 companies, operating in sectors as diverse as banking, construction, real estate and energy.

Explaining the Star purchase, Cem Aydin, CEO of Dogus Media Group, says the firm had become a “pioneer” in thematic channels and wanted to try its hand in a “new and more competitive market” – mainstream TV.

“We worked on a project named TV-en for almost two years,” he says. “But unfortunately, due to the financial turmoil, the project was postponed for an indefinite period. In 2011, when new advertising opportunities arose for mainstream channels, this was the right time to take a project from the rack. Turkey’s first private TV channel, Star TV, was on sale and so rather than building a TV channel from scratch we decided to rebuild Star TV.”

Dogus Media Group was founded in 1999 with the acquisition of NTV, Turkey’s first 24-hour news channel, which had launched in 1996. Business and entertainment channel CNBC-e debuted in 2000 while sports net NTV Spor, music channels Kral TV and Kral Pop, Hindi news net HDe and entertainment net e2 completed the line-up until Star was added last year.

Dogus wasn’t the only company affected by the economic crash, as the entire Turkish media industry faced cuts after a period of expansion, but Aydin says the country’s recovery is now gathering pace. “We were affected but the recovery process has been fast,” he says. “We expect the ad market to grow by 20.4% in 2012 and bring fresh blood to the media industry in general. We aim to increase our ad share in the market until 2013 and keep it around 11.2% afterwards. Obviously, TV still occupies the largest portion of ad share and the acquisition of Star TV has enabled us to double our market share projections for the next three years.”

Advertising sales have also been impacted by the collapse of the Turkish ratings system, which was abandoned last year amid allegations the personal details of some panelists were leaked, which potentially left them open to bribes to change their viewing habits.

A new ratings system will launch in May, but Aydin says: “We’re in limbo right now. This is not good for the sector. Advertisers need measured metrics; they want to see who they reach. And the ad price is also determined through ratings of the time slot. We broadcasters need the metrics to see how our shows are doing and also to talk to the advertisers.”

Despite some signs of economic growth, Dogus does not intend to venture back into acquisitions, as Aydin says picking up new networks is “not a priority for us right now. Improving Star TV, according to our goals and vision, ranks higher on our agenda and we need to concentrate on this objective,” he says.

In terms of content, Dogus’s networks have found success with both home-grown and imported shows. On CNBC-e, worldwide hits including the BBC’s Merlin and Doctor Who, US network CBS’s comedy How I Met Your Mother, Starz original series Spartacus: Blood & Sand and HBO’s Game of Thrones have won strong audiences, while NTV’s documentary hour on Sundays and local news show Close Up are also popular.

Meanwhile, e2 has a slate of international productions including HBO’s Treme and BBC comedy Come Fly With Me, as well as US talkshows such as The Ellen Show, The Conan O’Brien Show and The Tonight Show with Jay Leno.

At Star, Ottoman Empire drama Magnificent Century (Muhtesem Yuzyil), made by TIMS Productions, was acquired from rival Show TV, in part to highlight the takeover completed by Dogus, and viewers have followed. “We obviously treated this transfer as a launch tool to attract attention to the change taking place at Star,” says Aydin. “It is doing very well since the story is quite appealing and tragic and it has a loyal audience. But Star will create its own productions soon enough.

“For the past three or four years, historical series have been on the rise, occupying a serious position in the entertainment world and attracting significant attention to certain periods of history. We believe this trend will continue for a few more years as there is quite a lot of historical material that can be used.”

Other popular shows airing on Star include Iffet, a drama about a woman who is betrayed by her lover; and One Man, One Woman (Bir Erkek, Bir Kadin), the Turkish adaptation of Canadian comedy series Un Gars, Une Fille.

Gameshows are also finding viewers and Star airs a version of Israeli format Still Standing, under the title Eyvah Dusuyorum, which is produced by Endemol Turkey. The channel is also prepping a Turkish version of US classic Jeopardy!. “In terms of primetime series, locally originated productions have been dominant until recently,” says Aydin.

One notable exception to this is Kanal D’s remake of long-running US drama Desperate Housewives, which is running as Umutsuz Ev Kadinlari, produced by Medyapim.

“We are always looking to acquire successful international content,” says Aydin. “Adapting scripts is a rising trend but it is quite difficult to find stories that fit the local culture. Producing original dramas will still be the priority of the sector.”

The number of programmes exported from Turkey is also on the rise, as shown by Magnificent Century’s roll-out into more than 40 territories worldwide by distributor Global Agency. “Turkish series have become quite popular abroad, especially in the Middle East. It is to such an extent that the popularity of these series has boosted interest in Turkey, creating a new line of tourism. It is an exciting but understandable development, given the proximity of the cultures.

“This growth will continue as long as series dominate the primetime hour. But will this spread to other regions? The answer to this lies in shortening the duration, the variety and the production quality of the projects,” explains Aydin.

“Primetime is dominated by Turkish series that run for three hours, with ad slots. A show that runs for almost three hours every week has the possibility of falling into a vicious circle and, currently, the Turkish television industry is suffering from this fatigue. It is having a negative effect, because in order to fill that time space, the stories become longer than usual and lose their dramatic effect.”

As Dogus has bought into Turkey’s mainstream television market with its acquisition of Star, so too have international broadcasters, which are looking to exploit one of the fastest growing TV markets in the world.

Discovery, National Geographic and Disney all have a presence in the country, and while not directly competing against Dogus’s stable of channels, their presence is a sign of the value of the market to foreign broadcasters.

However, Aydin says this competition is not something local networks have to fear, but is something they should embrace. “NTV has been the pioneer of news channels in Turkey by positioning itself as ‘the news channel of Turkey.’ But recently we have had international companies entering the scene, such as Al Jazeera,” says Aydin. “The existence of such competitors in the market is valuable and beneficial to raise standards. The same is also true for players like TNT and Fox in the entertainment world. Such international companies spice up the course of Turkish media.”

Since officially relaunching Star in January after completing the acquisition, Dogus is now preparing for a “second launch” this fall as the growth of the channel forms the focal point of the media group’s ambitions for the immediate future. Part of this plan is to follow the changing audience landscape in Turkey and, in particular, how younger viewers are taking their viewing habits online.

However, Aydin says traditional TV is still the main medium. “The most significant change in Turkey has been witnessed with the expansion of new media, with the mass penetration of internet into households,” he says. “Nevertheless, television is still the main source of information and entertainment.

“Turkish television is quite up to date with what happens in the international arena. The younger audience, on the other hand, is following TV online and has created its own digital entertainment world. We strive to create content that appeals to these youngsters as their habits will be determining the trends of the next few years.” »

Source : C21 media

« ATV sale hangs in the balance » – C21 media

« Low bids could scupper the sale of Turkish broadcaster ATV, media insiders in the country have warned, as Time Warner, News Corp and investment group Texas Pacific Group emerge as front-runners

An ATV source told C21 the station’s owner, Calik Holding, is thought to be seeking 12 to 15 times EBITDA for its ATV-Saba holdings, which includes the ATV channel, as well as newspaper and magazine assets.

With EBITDA at US$85m, this would result in an asking price of up to US$1.28bn. However, News Corp, Time Warner and TPG have so far tabled bids of up to around US$1bn for the Turkish asset, Reuters reported earlier this week.

“In my opinion, the bids that they submitted are below the expectations of the sellers. So I think there’s a chance that they might decide not to sell after all. They might just want to raise the value of their company for different reasons and see who’s interested,” said Endemol Turkey MD Ansi Elagoz.

Calik bought the ATV-Sabah holdings for US$1.1bn in 2007, though the firm is now understood to have hired Goldman Sachs to handle a sale.

An ATV source told C21 that the asset was definitely up for sale with initial bids entered last week. Negotiations could now run into the summer, the source said, though separate reports suggest the process may conclude by the end of the month.

RTL, which was also rumoured to be interested in buying the asset, is not thought to have tabled an offer.

News Corp already owns Turkish terrestrial channel Fox TV and in 2010 sold its Bulgarian TV business bTV to Central European Media Enterprises for US$400m. Time Warner and TPG were reported to have bid for Turkish conglomerate Dogan Holding’s Kanal D and Star TV assets last year, though neither reached an agreement.

IHS’s head of advertising research Daniel Knapp said that Turkey is attracting foreign interest as it, along with Russia, is a key growth market: “Recent years have shown that the Turkish TV market is an opportunity too good to miss. In 2010 the ad market grew by 40%. In 2011 we project it to grow by 22% in net terms, which is phenomenal. We don’t see this growth anywhere else.”

Yadigar Belbuken, deputy general manager and head programming at Fox International Channels Turkey, would not comment on News Corp’s apparent interest in ATV, but said: “There seems to be room to grow and I suspect there will be more international groups launching new channels or investing in the market, such as in ATV.” »

Source : C21 media

« Yahya Üzdiyen becomes chief executive of Doğan » – Hürriyet Daily News

Yahya Üzdiyen’s post as Doğan chief executive starts today. Source : Hürriyet

« Turkey’s Doğan Holding has appointed Yahya Üzdiyen as its new chief executive, according to a company statement to the Istanbul Stock Exchange yesterday.

Üzdiyen was already serving as the deputy chairman of the company.

Born in 1957, Üzdiyen graduated from the Middle East Technical University’s business administration department in 1980. Until 1996, he worked as an executive in various private sector companies. In 1997, he was transferred to Doğan Holding as strategy group chief. He had been serving as the deputy chairman since Jan. 18, 2011, according to the company statement. »

Source : Hürriyet Daily News

« Doğan wins governance award » – Hürriyet Daily News

Doğan Chairwoman Yalçındağ (C) speaks during an Istanbul meeting yesterday. DHA photo. Source : Hürriyet Daily News

« Doğan Holding, a major Turkish media company, received “The Company with Third Highest Corporate Governance Rating Score” award yesterday at the Fifth International Corporate Governance Summit” organized by the Corporate Governance Association of Turkey.

The Industrial Development Bank of Turkey (TSKB) scored the highest score, while TAV Airports Holding came in second place.

The awards were based on the rating scores of Istanbul Stock Exchange’s Corporate Governance Index companies, as of Dec. 31, 2011.

The awards are based on the methodology of the Capital Market Board (SPK) and aims to create awareness and promote the best practices of corporate governance in Turkey, according to the web site of the association.

“Adopting corporate governance principles makes the firms more stable against risks,” Arzuhan Doğan Yalçındağ, said Doğan chairwoman, at the summit, adding that Doğan was one of the first business groups to go public in 1993.

Speaking at the ceremony, Ümit Boyner, head of Turkish Industry & Business Association, said the SPK should become more transparent with more independent board members. »

Source : Hürriyet Daily News

« Doğan says no longer considering media sale » – Sabah

« Doğan Group is no longer considering sales within its media group, the group’s founder and honorary chairman Aydin Doğan stated.

The Doğan Group, whose Doğan Yayin media group has had to cope with multi-billion lira tax fine cases, sold two dailies Vatan and Milliyet and the Star television channel under a recent restructuring process. Doğan’s statement clarified that the group has no intentions to sell Kanal D, Hürriyet, Posta or CNN Turk. »

Source : Sabah

« Dogan offloads Star TV » – C21 media

« Turkish conglom Dogan Media Group has sold entertainment network Star TV to a rival for US$327m.

Dogus Yayin Holdings will take on 99.9% of the channel, which broadcasts entertainment formats, dramas and sport and was Turkey’s first private TV network, subject to local competition clearance.

It will pay Dogan subsidiary Isil Television Broadcasting an initial US$151m, with the outstanding US$176m paid off in instalments over the next two years, according to a filing to the Istanbul Stock Exchange this week.

Dogan originally bought Star for US$306.5m six years ago at a keenly contested auction after previous owner Uzan Media folded in 2003 under the weight of its US$6bn debts.

But it has recently been struggling to cover a multibillion-dollar bill relating to fines, taxes and interest imposed by government, which some commentators have claimed could be politically motivated.

It was forced to sell off Star after failing to comply with new laws prohibiting any one media firm from controlling more than 30% of the advertising market.

Others Dogan assets, including daily newspapers, have already been shed. Kanal D was also on the block but reports today suggest the Star deal may end the sales process.

Meanwhile, Dogus rivals Dogan in terms of scale but its 123 companies are spread across the media, finance, automotive, tourism, real estate, construction and energy industries.

Media arm Dogus Media Group owns news net NTV and has struck partnerships with National Geographic, CNBC and Condé Nast and has more than 1,100 employees. »

Source : C21 media

 

« Doğan Yayın: unit tax fine slashed to 129 million lira » – Sabah

Source : Sabah

« Turkey’s leading publishing group Doğan Yayın said on Wednesday a tax fine for its Doğan Produksiyon unit had been reduced to 128.7 million lira ($80.94 million) from a previous 863 million under a tax amnesty deal.

Doğan said that this, the latest in a string of tax amnesty deals, brought its total tax fines to 988 million lira from a previous 4.2 billion lira. The group has not yet completed appeals on a remaining 770 million lira worth of tax fines. »

Source : Sabah

« Dogan group sells two leading newspapers » – Sabah

« Dogan Gazetecilik, the newspaper publishing unit of Turkey’s biggest media group Dogan Yayin, said Turkey’s Demiroren-Karacan partnership agreed to buy Milliyet and Vatan newspapers for $74 million.

Demiroren-Karacan group will pay $26 million for Vatan newspaper and $47.96 million for Milliyet, Dogan Gazetecilik said in a statement to the Istanbul Stock Exchange on Wednesday.

Dogan Gazetecilik shares were up 14.3 percent after the news but by 1418 GMT had reversed direction to trade 5.3 percent lower.

The shares fell because the sale price of the newspapers was lower than Dogan Gazetecilik’s market value, said analyst Hasan Sener at Oyak Securities. The newspapers make up the bulk of the company.

Dogan Gazetecilik’s market value stood at $283.7 million at yesterday’s close.

With the sale of Milliyet, the newspaper is back to its previous family owner.

Ali and Omer Karacan, who own the Number One broadcasting group, are the grandchildren of the founder of Milliyet, Ali Naci Karacan. Karacan sold the newspaper to Aydin Dogan in 1979.

The Karacan family has set up a partnership with Demiroren Group, which has interests in liquid propane gas and construction, to buy the newspapers. »

Source : Sabah

« Turkey approves broadcasting law on foreign ownership » – Sabah

Source : Sabah

« Turkey’s parliament approved late on Tuesday a law doubling to 50 percent the amount of broadcasters that foreigners can own, opening the way for more acquisitions from abroad.

Foreign investor interest in the country’s fast-growing media sector is expected to increase as a result of the legislation.

The foreign ownership article was approved individually on Jan 6 and the whole package of legislation was voted through on Tuesday evening.

Under the law, foreigners will be able to become partners in a maximum of two media institutions.

It also opens the way for broadcasting in foreign languages and dialects. The state broadcaster already has a Kurdish language channel.

Turkish media group Dogan Yayin, which owns major television stations as well as mass circulation newspapers such as Hurriyet and Milliyet, is in the process of selling assets.

U.S. private equity fund KKR, Time Warner and private equity fund Texas Pacific Group are among shortlisted bidders for assets in Dogan Yayin, which is embroiled in a legal battle over massive tax fines.

The ruling AK Party tried to reform foreign ownership rules in 2005 but the bill was vetoed by the former president.

The current president Abdullah Gul is a former AK Party member, and has a track record of approving legislation passed by the AKP-dominated parliament. »

Source : Sabah

« Dogan Yayin-court rulings in tax dispute upheld » – Sabah

« Turkey’s leading media group Dogan Yayin, embroiled in legal battles against crippling tax fines, said late on Wednesday appeals by both it and the state against initial court rulings had been rejected.

The publishing group said that of cases heard at the tax court involving a sum of 862.3 million lira, the court ruled in its favour for 814.22 million lira worth of that sum.

The court ruled against Dogan for 17.6 million lira worth, and had yet to decide on the remaining 30.6 million lira.

Of cases involving 796.7 million lira dealt with by the administrative court, the court ruled in Dogan Yayin’s favour for 783.2 million lira worth and against in 13.5 million worth.

Challenges by the tax office to court rulings in Dogan’s favour, had been rejected. Similarly Dogan Yayin’s challenges to rulings against it had also been rejected — leaving the original decisions in place. Dogan Yayin is selling its assets but will not exit the media sector entirely.

U.S. private equity fund KKR, Time Warner and private equity fund Texas Pacific Group are among shortlisted bidders for Dogan Yayin’s assets and will have a month to put their final binding offers on the table, a banker said on Tuesday.

Turkish foodmaker Yildiz Holding may bid in partnership with KKR, sources familiar with the deal told Reuters on Wednesday. »

Source : Sabah

« Turkey in move to allow 50% foreign TV ownership » – Sabah

Source : Sabah

« Turkey’s parliament approved on Thursday legislation allowing foreigners to own 50 percent of Turkish broadcasters, doubling the limit and paving the way for more acquisitions from abroad.

Voting was continuing on other articles of the broadcasting law in parliament.

The law is expected to shift investors’ attention to buyouts in Turkey’s fast-growing media industry. Turkey’s media sector is dominated by Dogan Yayin (DYHOL.IS), which owns major television stations as well as mass circulation newspapers such as Hurriyet and Milliyet.

Dogan Yayin, embroiled in a legal battle against crippling tax fines, plans to sell its assets and has put bids from Time Warner and two U.S. private equity funds, KKR (KKR.N) and TPG [TPG.UL], on a shortlist of potential buyers for the media group’s assets, excluding the flagship Hurriyet daily, sources familiar with the deal told Reuters on Wednesday.

The move is « positive for Dogan Group, » said broker Seker Yatirim in a report to clients after the approval.

Dogan Yayin is also preparing to sell its flagship Hurriyet (HURGZ.IS) daily newspaper separately, another source close to the process told Reuters, adding investment bank Goldman Sachs will invite initial bids by Feb. 1.

Hurriyet shares rallied as much as 15 percent on Wednesday and closed 13.4 percent higher at 2.11 lira. The stock jumped another 4.3 percent on Thursday at 1530 GMT close of trading, and Dogan Yayin shares advanced 5.4 percent.

The ruling, pro-business AK Party, tried to reform foreign ownership rules in 2005 but the bill was vetoed by the former president.

The current president, Abdullah Gul, is a former AK Party member, and has a track record of approving legislation passed by the AKP-dominated parliament.

A young population, coupled with the fastest economic growth in Europe, makes the Turkish media market attractive to investors. « 

Source : Sabah

« Turkey eyes reform of media ownership law -paper » – Reuters

« Turkey’s government is preparing a reform which would allow foreigners to own 50 percent of private broadcasters rather than a current 25 percent, Sabah newspaper reported on Saturday.

Sabah, without citing sources, said the draft reform law had been presented to the prime minister’s office.

The current law was an obstacle in last year’s sale of media firm ATV-Sabah, bankers and analysts said.

After several foreign firms showed interest, the company — which includes Sabah newspaper — was sold to local conglomerate Calik Holding for the minimum auction price of $1.1 billion.

The pro-business AK Party tried to reform the law on foreign ownership in 2005 but the bill was vetoed by the former president. Current President Abdullah Gul is a former member of the AK Party and has a track record of approving legislation passed by the AK-dominated parliament.

Turkey’s fast-growing media sector is dominated by Dogan Yayin Holding (DYHOL.IS). The second largest company is ATV-Sabah, which is made up of assets seized by a state body from the Ciner Group last year and which was sold to Calik in December.

Third largest is the media business of unlisted conglomerate Cukurova, which, according to sources familiar with the situation, has been looking to sell a stake in its media assets.

A large and young population, coupled with annual economic growth of around 5 percent makes the Turkish media market attractive to investors. Companies which expressed an interest in ATV-Sabah included News Corp. NWSA.N and Europe’s largest commercial broadcaster RTL AUDK.LU. (Reporting by Emma Ross-Thomas, Editing by Peter Blackburn) »

Source : Reuters