Time Warner, News Corp. Said to Bid for Turkey’s ATV-Sabah

ISTANBUL: Time Warner, News Corp. and the private equity group Texas Pacific have reportedly placed formal bids to acquire the Turkish media group ATV-Sabah, a unit of Calik Holding.

Calik Holding bought ATV-Sabah in 2007 for $1.1 billion. One of Turkey’s largest media groups, ATV-Sabah combines a popular television channel and a leading Turkish newspaper. Bids are said to be near the $1 billion asking price.