Confirmation of the deal, which was in the pipeline for a number of months, finally came from both parties on Monday, July 13. Under it, the Qatari company acquired the stakes held by Cukurova Holding (53%) and US’s Providence Equity Partners (47%).
The sale will still require a number of administrative approvals and the fulfillment of various conditions before it is completed. These, say some local reports, could take several months.
Digitürk had over 2.27 million subscribers in Turkey as of the end of the first quarter this year. It holds the lucrative broadcasting rights to Turkey’s leading football league until the end of the 2016/17 season.
Meanwhile, beIN Media Group’s assets include Al Jazeera.
In previous reports, it was believed beIN Media Group would pay between $1 billion and $1.2 billion for Digitürk.