Al Jazeera’s BeIN Media Group is close to buying Digiturk, according to Reuters, citing three sources familiar with the talks currently taking place between the two parties.
The negotiations are at an advanced stage and could be finalised in the next couple of weeks, with the deal being the acquisition of the whole of the Turkish company.
Digiturk is currently 53% owned by Turkey’s Çukurova Holding, with the remaining 47% held by the US private equity group Providence Equity Partners.
However, Çukurova’s stake in Digiturk was seized in 2013 by Turkey’s Savings Deposit Insurance Fund (TMSF) due to its debts to the state agency.
Digiturk holds the lucrative rights to premier football league (Spor Toto Super League) until the end of the 2016-17 season.
BeIN Media Group operates beIN sports channels in Europe, Asia and the US.