« Murdoch tells Erdoğan interested in expanding investment in Turkey » – Today’s Zaman

Ruppert Murdoch. Source : Today's Zaman

« Turkish Prime Minister Recep Tayyip Erdoğan met with News Corporation Chairman Rupert Murdoch on Tuesday afternoon in Ankara.

The Australian-American media mogul’s meeting with Erdoğan followed last month’s media reports that his News Corporation was planning to buy Turkish Çalık Holding’s Sabah daily and ATV station.

A Turkish official close to the prime minister told The Associated Press that Murdoch has expressed an interest in expanding investments in Turkey.

The official said Murdoch told Erdoğan during the meeting that he regarded Turkish media as an « important sector » for investments.

The Turkish official, who spoke on condition of anonymity in line with government rules, would not say if Murdoch expressed interest in acquiring Turkey’s ATV television and Sabah newspaper.

Murdoch in 2007 shared with the Turkish government that he “seriously contemplated the acquisition of Sabah and ATV” when they were put up for sale by the state’s Savings Deposit Insurance Fund (TMSF). Following confiscation by the TMSF of Turkish business tycoon Turgay Ciner’s Merkez Media Group in 2007, the Çalık Group acquired Sabah and ATV along with other smaller entities for $1.25 billion in 2008. The News Corporation’s Wall Street Journal said in late January that US media giant Time Warner Inc. and private equity firm TPG Capital are also interested in Sabah and ATV.

Murdoch’s reputation as a media tycoon was smeared by a scandal last year that even forced the British government to make a statement regarding its links to the mogul’s media empire. Following the discovery of systemic phone hacking made by Murdoch’s News International, police arrested dozens of reporters as well as a number of executives working for him. »

Source : Today’s Zaman

« Race for ATV-Sabah heats up as Murdoch joins in » – Sunday’s Zaman

« Friday’s report in The Wall Street Journal that Australian-American media mogul Rupert Murdoch’s giant News Corporation was mulling over acquiring Turkish Çalık Holding’s Sabah daily and ATV station will boost the competitors’ bids for the sale, observers argue.

Çalık recently announced he was putting Sabah and ATV on sale and that the US investment management firm Goldman Sachs was authorized for the sale. The WSJ quoted sources close to News Corp that the company last Wednesday demanded Goldman Sachs to extend the pre-proposal date for the sale, which gave Murdoch another week to come up with an offer. The WSJ also claimed the sale process has drawn interest from bidders including Time Warner Inc. and private equity firm TPG Capital. The offer could be between $700 million and $1 billion, and the presence of another bidder such as News Corp could increase the deal at the high end of that range or above, the WSJ report said.

This is not the first time Murdoch has voiced interest in the Turkish media market.

Murdoch and his partner Turkish-American music magnate Ahmet Ertegün’s Atlantic Records acquired Turkish Huzur Radyo TV AŞ. — the owner of TGRT TV — for $98 million in 2006. TGRT’s name was later changed to Fox TV and it continues operating under this name in Turkey. The mogul in 2007 shared plans with the Turkish government that he “seriously contemplated the acquisition of Sabah and ATV” when they were put on sale by the state’s Savings Deposit Insurance Fund (TMSF). Following confiscation by the TMSF from Turkish business tycoon Turgay Ciner’s Merkez Media Group in 2007, the Çalık Group acquired Sabah and ATV along with other smaller entities for $1.25 billion in 2008. In addition to top-rated entertainment station ATV and major daily Sabah, Çalık Group also currently owns smaller newspapers Takvim, Günaydın, Yeni Asır and Pas Fotomaç, radio station Radio City, 10 magazines and their properties, brand names and equipment. […] » »

Source : Sunday’s Zaman