News Corp mulls bid for Turkey’s ATV and Sabah -WSJ
Sunday, January 22, 2012
News Corp is considering bidding for Turkish group Calik Holding’s media assets ATV and Sabah, Wall Street Journal reported citing sources familiar with the matter.
Calik and its advisors at Goldman Sachs Group Inc. had been seeking preliminary bids by Jan. 18, but have pushed the deadline back until next week, in part to accommodate News Corp, Wall Street Journal reported, citing a source.
People familiar with the matter have pegged the value of Sabah-ATV at somewhere between $700 million and $1 billion, and the presence of another deep-pocketed bidder such as News Corp could increase the odds of a deal at the high end of that range or above, the newspaper said.
News Corp also owns The Wall Street Journal.
Calik hired Goldman Sachs this month to steer the sale of ATV and Sabah. Private equity funds including TPG Capital and KKR & Co, along with Time Warner and RTL Group -- Europe’s biggest commercial broadcaster -- are among interested bidders.
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