The Canadian company CanWest Global Communications Corp. will not bid for the Turkish media group Medya Yahin Holding (MYH), according to reports in the Turkish press. MYH, whose interests include the national daily Sabah and ATV, one of Turkey’s most popular TV stations, was seized by the Turkish State Deposits and Insurance Fund (TMSF) from its owner Turgay Ciner earlier this year following allegations of financial irregularities. Bids for the company, which has been valued at a minimum of $1.1 billion (€808.6 million), have to be lodged by November 6.
