Middle-east Arab News Opinion | Asharq Al-awsat

News Corp mulls bid for Turkey's ATV and Sabah: WSJ - ASHARQ AL-AWSAT English Archive
Select Page

ISTANBUL (Reuters) – News Corp is considering bidding for Turkish group Calik Holding’s media assets ATV and Sabah, Wall Street Journal reported citing sources familiar with the matter.

Calik and its advisors at Goldman Sachs Group Inc. had been seeking preliminary bids by January 18, but have pushed the deadline back until next week, in part to accommodate News Corp, Wall Street Journal reported, citing a source.

People familiar with the matter have pegged the value of Sabah-ATV at somewhere between $700 million and $1 billion, and the presence of another deep-pocketed bidder such as News Corp could increase the odds of a deal at the high end of that range or above, the newspaper said.

News Corp also owns The Wall Street Journal.

Calik hired Goldman Sachs this month to steer the sale of ATV and Sabah. Private equity funds including TPG Capital TPG.UL and KKR & Co, along with Time Warner and RTL Group AUDK.LU — Europe’s biggest commercial broadcaster — are among interested bidders.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

More Posts

Follow Me:
FacebookGoogle PlusYouTube