Calik Holdings of Turkey has talks in progress to sell off its ATV television subsidiary to Time Warner Inc. The final decision can be made by April's end according to two sources telling Reuters on condition of anonymity.
Amongst the suitors is Abraaj Capital of Dubai according to the sources. Also expressing interesst is News Corp of Rupert Murdoch but withdrew its bid last year. According to one source, "These are positive developments regarding Time Warner Group but the process is not yet completed. It should become clear at the end of April where the sale will happen or not."
Calik Holdings declined to make any comment while Time Warner officials in London could not be reached.
Calik Holding has an employee headcount of 20,000 in 16 countries from industries ranging from energy, telecommunications, construction, finance, mining and textiles.
Calik engaged the services of Goldman Sachs back in January 2012 to manage the sale of the stake over the media business.
Join the Conversation