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The Post Where We Try to Break News (and kinda fail)

October 14, 2010

Let’s see how this goes.

Update: Uhhh, probably not.

Ever since Dogan was hit with a 4.8 Billion TL fine (~$2.5 Billion) there’s been concern that the Holding would have to sell some things to stay afloat. Even after they had the fine lowered in the most Byzantine way ever:

…the court ruled in its favor in cases worth TL 864.78 million and against it in cases worth TL 1.88 million. In cases worth TL 2.25 billion, the court ruled partially in its favor and partially against it, the statement read, adding that the value of the rulings in its favor was not clear. A written verdict has not yet been sent to the company.

Reuters has a good timeline of all of the events. And now, the Financial Times reports through, um, someone else, through, errr, Twitter, that Dogan Yayin is going up for sale, with a few different – but all foreign – investors.

RTL, the European broadcaster, Time Warner of the US, as well as KKR and TPG Capital private equity firms are among several companies interested in assets of Dogan Yayin Holding

At the moment, there is no foreign media company operating in Turkey. BBCTurk, CNNTurk, and their ilk all have their main offices outside Turkey and cannot be sued the same way Zaman or Hurriyet can when the government here in Turkey gets a little bit, well…you know. So this foreign investor will probably be the first of its kind (The Rebecca reminds me that this is bad writing and untrue. To clarify: no Turkish media company has been bought by a foreign company). And I have a feeling I know who it’s gonna be.

I was told that News Corporation would be the ones to buy out Dogan. I know they’re not listed by the FT and I know that I have very little in the way of prognostication powers…but man, can you imagine how much fun it would be to watch?

So it’ll still be a bit before the buyer is named, but let’s see who it is, and lets see if my sources are good sources.

Well, they are good sources. So lets just see if I’m a good reporter.

It should be stated that none of my co-writers on this blog have signed off on this, and that I could be way, way, off here. But it would sure be fun if I wasn’t, because Turkey has just about the best environment ever for Rupert Murdoch to come in to.

3 Comments leave one →
  1. Bulent Murtezaoglu permalink
    October 14, 2010 7:01 pm

    Um, funny you mention Murdoch, see here:

    AFAIK they’ve been here since ’06 or ’07. (I heard they were booed out in the rallies of the Republic.)

  2. spine permalink
    October 20, 2010 4:05 pm

    Reuters are registered as a company in Turkey, so are Bloomberg, and most of the other major news agencies.


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