Turkish TV Giant Prepares for IPO

24 October 2007

ISTANBUL: Turkey's biggest pay-TV company, Digiturk, owner of over 150 TV, radio, interactive and music channels, plans to sell 25% of its business in an IPO valued at 669 million lira ($550m; €387m; £269m).

The country's booming economy is driving up advertising revenues which last year saw Turkish companies spend 3.7bn lira on ads, a jump of 23% from 2005.

Says one analyst: "This is an under-penetrated market with a relatively young population and these things together add up to good prospects [for Digiturk]."

The company is currently controlled by the Cukurova conglomerate and US private equity firm Providence Equity Partners.

Data sourced from Financial Times online; additional content by WARC staff