ISTANBUL, April 12 Turkey's Calik Holding has
made progress in talks to sell its ATV television unit to Time
Warner Inc and a final decision could be made by the end
of April, two sources close to the matter told Reuters on
Dubai-based Abraaj Capital is also interested in Calik's
media assets, the sources said. Rupert Murdoch's News Corp
had been eyeing ATV but dropped out of the race last
year, other people said at the time.
"There are positive developments regarding Time Warner Group
but the process is not yet completed. It should become clear at
the end of April whether the sale will happen or not," said one
A spokeswoman for Calik declined to comment. Company
officials at a Time Warner office in London could not
immediately be reached.
Calik, which also has interests in energy and finance,
appointed Goldman Sachs in January 2012 to manage the sale of a
controlling stake in its entire media business, which includes
Sabah newspaper, but there was no interest in acquiring the
Calik Holding paid $1.1 billion in 2007 for ATV-Sabah, one
of Turkey's largest media groups.
Ahmet Calik, chairman of the holding company, is regarded as
close to the ruling AK Party's leadership, and the deal gave the
socially conservative, economically liberal government an
influential friend in the media.
Erdogan's son-in-law, Berat Albayrak, is the chief executive
of Calik Holding, and his brother Serhat Albayrak is the general
manager of the media unit.
A unit of the Qatar Investment Authority, Lusail
International Media Co, owns a 25 percent stake in ATV-Sabah,
according to Calik's website.