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FINANCIAL NEWS
Qatar’s beIN to buy USD820m stake in Turkish TV
25 Dec 2014
(MENAFN) Qatar’s beIN Media Group, which runs beIN Sports, announced it has agreed to pay USD820 million for the acquisition of 53 percent of Turkish pay-TV giant Digiturk, Arabian Business reported.
The media group bought the stake in Digiturk, which has the exclusive rights to broadcast Turkey’s top football competition, the Super Lig, from Turkey’s Savings Deposit Insurance Fund, a state entity that took control of the provider after its previous owner failed to meet its debt obligations.
If this deal is completed, it will extend beIN Sports’ coverage to a country where former parent firm Al Jazeera is steadily building up its presence after its Turkish-language channel, Al Jazeera Turk, secured its digital license in April 2013, a new website in then addition to launching a new website in the country during the January-March period of this year.
beIN Media Group, which separated itself from its parent the Al Jazeera Media Network in 2013, currently provides coverage in 24 countries in the Middle East and North Africa, as well as other countries including France, the US, Canada and Australia, with the group being known for investing heavily in securing the rights to broadcast some of the world’s top sporting events, including the FIFA World Cup in Brazil, the English Premier League and the UEFA Champions League.
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