Published On: Wed, Jul 15th, 2015

Al-Jazeera’s Bein buys Turkish pay-TV network Digiturk

TO GO WITH AFP STORY BY TAIEB MAHJOUB A

Qatari media group beIN has completed the takeover of Turkish satellite network and pay-tv provider Digitürk, a statement from the company said late on July 13, while Qatari Emir Tammim bin Hamad al-Thani met and conferred with Turkish President Recep Tayyip Erdoğan behind closed doors in Istanbul.

According to IRIB World Service, citing IRNA, this is the emir’s fifth visit to Turkey in the current year.

The media group is an affiliate of Qatari-based television network Al Jazeera.

No sale amount was disclosed for the deal. However, former media reports said the amount is nearly $1.2 billion.

This is not the first time a Qatari company has invested in Turkey. Half of Turkish defense company BMC, which had earlier been owned by Çukurova, was sold to a Qatari company in 2014. Qatari investment fund Mayhoola for Investments also bought a 30.7 percent stake in Turkish retailer Boyner Perakende for 885 million Turkish Liras ($332 million) in April.

 

Published by Hurriyet Daily News

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