Axel Springer, the German publishing house, has acquired a 25 per cent stake in Dogan TV, the Turkish broadcaster.
It will pay EUR375 million, which entitles the company to nominate two of the seven board directors. However, the deal is still subject to regulatory approval.
Dogan TV is the leading Turkish broadcaster, with an audience share of 24 per cent and an advertising market share of 36 per cent.
Its operations include three national TV stations, two European channels (EuroD and EuroStar) 15 thematic satellite and cable channels and three Turkish radio stations.
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