Doğan to sell all media assets except Hürriyet daily

The Doğan Holding conglomerate’s media group, Doğan Yayın Holding (DYH), has announced that it will sell all of the companies in its media business, except for the Hürriyet daily, within three months in an attempt to survive crippling tax fines. In an interview with Reuters on December 13, DYH Vice Chairman Gedik said that a shortlist for the sale of assets would be ready in a month and that the newspaper Hürriyet would not be included in this first group of assets. Goldman Sachs is advising on the sale.

Although recent court rulings have gone in its favor, Dogan Holding continues to be crippled by the multi-billion dollar security bonds it has been required to post in the tax cases. The sale value of its media assets is likely to be highly compromised by the pending court cases.

Source: Today’s Zaman

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