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Latest Satellite News Discussion, Murdoch interested in DigiTurk stake? at General Satellite News forum; Murdoch interested in DigiTurk stake? By Chris Forrester Turkish DTH broadcaster DigiTurk is 47% held by private equity company Providence ...

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Thumbs up Murdoch interested in DigiTurk stake? - 11-October-2010, 16:20

Murdoch interested in DigiTurk stake?
By Chris Forrester

Turkish DTH broadcaster DigiTurk is 47% held by private equity company Providence Equity Partners. Reports suggest that Providence is looking to exit the business and is having preliminary meetings with a number of potential buyers of its stake.

Other private equity companies are reportedly conducting due diligence examinations of the business, while Time Warner and News Corp are said to be looking at the stake.

Providence bought its share in January 2006 from Turkeys Cukurova, which owns the balance of DigiTurk. Providence paid $250m for its stake. An IPO was planned back in November 2007 but was never launched. However, at that time a valuation of some $2bn was placed on the overall business.



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