beIN MEDIA GROUP acquires Digiturk
Acquisition of Digiturk marks the launch of in-country operations and the continued rapid expansion of beIN’s global footprint
DOHA, ISTANBUL, JULY , 2015 – beIN MEDIA GROUP LLC (“beIN MEDIA”) is today pleased to announce it has signed a definitive agreement to acquire DP Acquisitions B.V., the holding company of the Turkish pay-TV group operating under the name Digiturk. beIN Group made acquired the shares from Çukurova Group and funds controlled by Providence Equity Partners. Management rights in respect of Çukurova Group’s ownership interest in Digiturk have been exercised by Turkey’s Savings Deposit Insurance Fund (TMSF) since May 2013.
Digiturk is the leading pay-TV operator in Turkey with approximately 3.5 million subscribers, offering a premium mix of leading sports and entertainment content across 239 standard and high definition channels. In addition to all main Turkish channels in high definition, key content on offer to subscribers includes:
- Sports: SporToto Süper Lig, Barclays Premier League, Russian and Brazilian League Football, Copa Del Rey, Turkish Airlines Euroleague Basketball, Beko Basketbol Ligi, Wimbledon and ATP Masters 1000 tennis, Formula 1 and a whole variety of top-class sports content
- Entertainment: Showcasing movie and series offerings from the leading studios across the world including Disney, Paramount, 20th Century Fox, Warner Brothers, Universal, HBO and Lionsgate. Digiturk also carries a broad spectrum of channels to suit the diverse viewing demographics of the Turkish marketplace, including the Discovery Channel, Nickelodeon, E! Entertainment, MTV, CNBC, Animal Planet, National Geographic, and CNN
Commenting on the transaction, Nasser Al-Khelaïfi, Chairman and Chief Executive Officer of beIN MEDIA, said: “The acquisition of Digiturk is a key milestone in our vision of global expansion and our commitment to provide the highest quality broadcast experience in high growth potential and mature markets. Expansion into the Turkish market is a natural next step for the beIN MEDIA GROUP due to proximity of Turkish market to MENA region. We look forward to further strengthening the Digiturk platform and advancing the exciting dynamics of the Turkish Pay-TV and Sports market”.
The acquisition remains subject to a number of conditions, including approvals from relevant regulatory bodies, which should be fulfilled in the coming months. Barclays acted as exclusive financial adviser to beIN MEDIA in connection with the transaction.