Bloomberg "Anywhere" Remote Login Bloomberg "Terminal" Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Abraaj, Time Warner Said to Place Binding Bids for Turkey’s ATV

May 30 (Bloomberg) -- Time Warner Inc. and Abraaj Capital Ltd., a Dubai-based buyout firm, placed binding bids for ATV television channel owned by Istanbul-based Calik Holding AS, two people with direct knowledge of the situation said.

Calik Holding, which has interests in energy, textiles and banking, and Goldman Sachs Group Inc., which Calik hired to advise on the sale, will assess the bids within a month, said the people, who declined to be identified because the process is confidential. A bid from Rupert Murdoch’s News Corp. was rejected as uncompetitive, they said.

News Corp. spokesman Jack Horner and a spokesman for Time Warner declined comment. Serhat Albayrak, head of Calik’s media group, didn’t respond to e-mailed questions and four telephone calls to his office seeking comment. Selcuk Yorgancioglu, head of Abraaj’s Turkish office, declined comment.

Calik paid the government $1.25 billion for ATV and the Sabah newspaper after winning loans from state-run banks and its Qatari partner in 2008.

Link to Company News:{545950Z UH <Equity> CN <GO>} Link to Company News:{NWSA US <Equity> CN <GO>} Link to Company News:{TWX US <Equity> CN <GO>}

To contact the reporter on this story: Ercan Ersoy in Istanbul at eersoy@bloomberg.net

To contact the editor responsible for this story: Mark Bentley at mbentley3@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.