beIN Media Group has finally completed its acquisition of Turkish pay TV operator Digiturk from its holding company DP Acquisitions.
Announcing the move, beIN Media Group chairman and CEO Nasser Al-Khelaïfi said that the acquisition represents the “largest deal in the history of our group and a major milestone in our global expansion”.
The completion means that beIN Media Group has finalised its buyout of DP Acquisitions – the holding firm that houses Digiturk – from Çukurova Group and funds controlled by Providence Equity Partners – a deal that dates back to 2015, when beIN was reported to have agreed to pay US$1 billion (€880 million) for Digiturk.
“This acquisition underscores our commitment to provide the highest quality broadcast experience in high growth potential and mature markets,” said Al-Khelaïfi.
“Neighbouring the MENA region and within close proximity to our key markets in Europe and Asia, our expansion in Turkey is an essentialnext step for the beIN Media Group.
“Digiturk positions us as a leader in the fast growing Turkish market and offers tremendous business opportunities in the years ahead. We look forward to further strengthening the Digiturk platform and advancing the exciting dynamics of the digital publishing and Sports market in Turkeywith our global experience.”
Digiturk is Turkey’s leading pay TV operator with some 3.3 million subscribers, offering a mix of sports and entertainment content across 219 SD and HD national channels.
beIN Media Group is active in both sports and entertainment, with assets that include beIN Sports – a TV network that is present in around 36 countries in North America, MENA, Europe and Asia.
Last year beIN also launched a new platform in MENA that includes 28 beIN-owned channels – 20 sports channels, four movie channels and four kids networks.