Mar 21 2018

Major Turkish media group sold to pro-government businessman

The Doğan Media Group, including newspapers Hürriyet, Posta and Fanatik and TV channels Kanal D and CNN Türk, has been sold to pro-government businessman Erdoğan Demirören, independent news site T24 said.

The sale, other news sources said, was carried out for $1.25 billion.

Demirören, who also owns energy company Milangaz and the Demirören İstiklal shopping mall in Istanbul, as well as being the president of the Turkish Football Federation, bought opposition newspapers Milliyet and Vatan in 2011 and carefully pruned them of any content to which the government might object.

However, T24 said that it was thought that there might be other sources of capital behind the sale.