Turkey’s Doğan in Talks to Sell Media Assets

Turkey’s Doğan Holding has entered into discussions with Demirören Holding for the sale of its TV and newspaper businesses.

Dogan Media Group, which holds such assets as the Kanal D and CNN Turk channels, could be sold off to Demirören Holding, a conglomerate with interests in energy, construction, tourism and media. Demirören owns Milliyet and Vatan newspapers, previously acquired from Doğan in 2011.

The deal has an enterprise value of $1.1 billion, with an equity value of around $890 million, after the reduction of related financial debt.