American Time Warner has agreed to buy Turkish Calik Group’s popular TV channel ATV for USD 750mn, news portal gazeteciler.com reported on Thursday. Executives from the two companies had a final meeting on Thursday to discuss details, according to gazeteciler.com. Turner Group reportedly will take over ATV either in June or in September.
Calik Group, one of Turkey’s largest conglomerates, has interests in the textile, energy, construction, finance, media, telecommunications and mining industries. Calik had bought ATV and Sabah newspaper from the Saving Deposit Insurance Fund (TMSF) in an auction in 2007 for USD 1.1bn. It was previously reported that News Corp and Dubai-based Abraaj Capital had also been interested in Calik Group’s media assets.
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