Bloomberg News

Dogan Applies to Buy Turkish TNT Television From Time Warner

July 26, 2012

Dogan Sirketler Grubu Holding AS (DOHOL), which controls Turkey’s biggest media group, applied to the antitrust regulator to buy a television company from Time Warner Inc. (TWX:US)

Dogan TV Holding, run by unit Dogan Yayin Holding AS (DYHOL), sought approval to buy Eko TV Televizyon Yayincilik AS, which owns the TNT channel, according to a statement on the Ankara- based competition board’s website.

Turner Broadcasting System Inc., a unit of Time Warner, closed its TNT television operations in Turkey last month saying it failed to meet performance and growth targets.

The approval of the competition board is required before a company can purchase other business enterprises.

Dogan Sirketler rose 1.3 percent to 79 kurus on the Istanbul Stock Exchange yesterday. Dogan Yayin climbed 4.6 percent to 68 kurus.

To contact the reporter on this story: Aydan Eksin in Istanbul at aeksin@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net


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Companies Mentioned

  • TWX
    (Time Warner Inc)
    • $80.05 USD
    • -0.54
    • -0.67%
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