beIN MEDIA GROUP acquires Digiturk
beIN MEDIA GROUP acquires the largest Turkish Pay-TV platform 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.
About beIN MEDIA GROUP
beIN MEDIA GROUP LLC, incorporated in January 2014, became the official owner of the global sports network, beIN SPORTS.
beIN SPORTS as a brand was first launched in June 2012 in France. On December 31 2013 Al Jazeera Sport was officially spun off from the Al Jazeera Media Network to become beIN SPORTS. Today beIN SPORTS has 36 channels worldwide and broadcasts across the Middle East, North Africa, Europe, North America and Asia Pacific.
Aside from building the beIN premium sports network, beIN MEDIA GROUP is expanding beyond sports into entertainment through production and distribution as well as in the digital space.
Digiturk is the largest Pay TV operator in Turkey, offering a premium mix of leading sports and entertainment content. The company was the first to provide digital Pay-TV in Turkey and has the strongest content offering in the market. Subscribers can access the platform via DTH satellite domestically and OTT services to both domestic customers and the international Turkish diaspora.