New Turkish Media Rules Pave Way for Foreign Investment

ANKARA: The Turkish government has relaxed caps on foreign investment in local media, with the maximum stake being upped from 25 percent to 50 percent.

According to wire reports, the new rules allow foreign investors to hold up to 50 percent of no more than two broadcasters. The relaxed rules also allow the broadcast of shows in foreign languages, and reduce the among channels must contribute to the Radio and Television Supervision Agency.

The revised legislation comes as foreign bidders eye the assets of Turkey’s leading commercial media group, Dogan Yayin. Time Warner and KKR are among those said to be circling Dogan’s broadcasting assets.