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FINANCIAL NEWS
Qatar’s Al-Jazeera plans a bid to buy stake in Turkish Digiturk
23 Dec 2013
(MENAFN) Al-Jazeera, the Qatar-based broadcaster, plans to purchase a majority stake in Digiturk, a Turkish pay-TV company, in order to increase its soccer offering ahead of the 2022 World Cup finals in Qatar, according to Daily Star.
The purchase is part of a USD321 million-per-year deal between the two parties which aimed to provide Al-Jazeera by Digiturk’s exclusive rights.
A banking source familiar with the plans said: “It”s really the football rights that differentiate Digiturk from others, and the Qataris are keen to get that access. Otherwise, it does not make any sense for them to look at a business in a country where the local language is so dominant.”
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