Turkey's Demiroren Holding to buy Dogan media group - report

Demiroren has agreed to buy the media arm of Dogan Holding, which owns well-circulated Turkish daily Hurriyet and CNN Turk TV channel. The company will make an announcement soon, says a Demiroren official with knowledge of the sale.

In this February 20, 2009 file photo, a TV transmission vehicle is parked outside of the Dogan group TV headquarters in Istanbul, Turkey.
AP

In this February 20, 2009 file photo, a TV transmission vehicle is parked outside of the Dogan group TV headquarters in Istanbul, Turkey.

Turkey's Demiroren Holding will buy the media arm of Dogan Holding, a Demiroren official said on Wednesday.

Demiroren, already owns two newspapers Milliyet and Vatan, has agreed to buy owner of Hurriyet newspaper and broadcaster CNN Turk, a Demiroren official told Reuters news agency. 

The official declined to be identified because the deal has not yet been made public.

The official did not give a price for the transaction, adding it would be officially announced soon.

A representative for Hurriyet, which also publishes an English-language newspaper, the Hurriyet Daily News, said: “Personnel are currently being informed. A detailed statement on the transaction will be made to the Istanbul stock exchange today.”

Agreement made on acquisition

"The talks are progressing, and an agreement has been made on the acquisition," the official said.

Dogan Holding's media arm and its founder, Aydin Dogan, have long been seen as part of Turkey's secular establishment.

In 2009, Aydin Dogan sold the group's Milliyet and Vatan newspapers to Demiroren Holding.

Shares of Dogan Holding jumped more than 17 percent to 0.85 Turkish lira and its newspaper arm, Hurriyet Gazetecilik, rose 19 percent to 1.22 Turkish lira.

According to the website of Dogan Holding, Dogan Media Group has the following organisations:

Kanal D, CNN Turk, Tv2, Dream TV, Dream Turk, Hurriyet, Posta, Fanatik, Hurriyet Daily News, TME, Dogan Egmont, Dogan Kitap, Dergi Pazarlama ve Planlama (DPP). Under the brand of the Dogan Burda Magazine includes Atlas, Auto Show, Blue Jean, Burda, Capital, Ceo Life, Chip, Diabetic Living, Ekonomist, Elele, Elle, Elle Decoration, Evim, Formsante, Guncel Hukuk, Hello, HeyGirl, Istanbul Life, Level, Lezzet, Maison Française, Popular Science, Start Up, Yacht Türkiye.

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