Turkish media giant Sabah-ATV put up for sale

Turkish conglomerate Calik Holding, which is run by Prime Minister Recep Tayyip Erdogan's son-in-law, has put Sabah-ATV, the country's second-largest media company, up for sale, the Wall StreetJournal reported. Time Warner, led by chairman and CEO Jeff Bewkes, and private equity firms are among possible bidders, it said.
A source familiar with the situation said the entertainment giant, which has made acquisitions in fast-growing markets overseas in recent years, has been approached in the bidding process. Sabah-ATV's assets include TV station ATV and daily newspaper Sabah. Bids are due in the third week of January, according to the Journal.
The Turkish company's assets are valued at between USD 700m and USD 1bn, it said. Calik, which also owns energy assets, acaquired Sabah-ATV from the state for USD 1.25bn in 2008 in an auction that triggered suspicions that the government was looking to increase its control over the media, the Journal said.