beIN Media Group acquisition of Digitürk

Overview:

• The Qatar-based beIN Media Group has completed its acquisition of DP Acquisitions, the holding company of the Digitürk Group - Turkey's largest pay-TV operator from Çukurova Holding subsidiary Fintur Technologies and Providence Equity Partners.
• Çukurova held a 53% stake in the company that had been seized by Tasarruf Mevduatı Sigorta Fonu (TMSF), the Savings Deposit Insurance Fund of Turkey, in 2013 following non-payment of debts, owed to the state agency by Mehmet Emin Karamehmet.
• Though the details of the sale have not been made public, its value is reported to be in the region of $1.2 billion.