Rupert Murdoch's News Corporation and Atlantic Records chairman Ahmet Ertegun have reached a deal to acquire the Turkish broadcast network TGRT for 151 million Turkish lira (approximately 97 million dollars).
The two buyers will pay 127.2 million lira to secure a 56.5-percent controlling interest from Ihlas Yayin Holding, the media division of Ihlas Group, with the remaining sum going to individual shareholders.
The TGRT name and brand will stay with Ihlas Holding; the new owners may use the logo only on a transitional basis. The deal still requires sign-off from Türkiye's regulatory authorities.
News Corp. Europe Chairman Martin Pompadur said the partnership aimed to build "a top-quality television station" for Turkish audiences. TGRT launched in 1993 as one of Türkiye's earliest private broadcasters and currently reaches viewers nationwide.
News Corp. already has a presence in Türkiye through outdoor advertising, and its global portfolio includes 20th Century Fox, Fox News, and newspapers across the United States, Britain, and Australia.
Historical summary. TurkishPress restated this wire report, first published in July 2006, in its own words.