Doğan raises bid for TV platform Digiturk

ISTANBUL

Turkey’s Dogan Yayın Holding said on Jan. 17 it had revised upward its non-binding bid to $879.5 million to buy a 53 percent stake in digital pay-TV operator Digiturk.

Dogan Yayın, which runs newspapers and TV stations, made the offer to Digiturk owner Çaukurova Holding and to the state Savings Deposit Insurance Fund of Turkey, it said in an announcement in a statement to the Istanbul stock exchange.

Türk Telekom also submitted a non-binding offer to buy a 53 percent stake in the company in July, but the Çukurova Group found Türk Telekom’s $530-million offer too low. Providence also submitted a non-binding offer, which had then been the highest, according to sources. Qatar-based TV channel Al Jazeera had also voiced interest in buying the majority stake in the company.