beIN move step closer to completing $1.5 billion takeover of Turkish Super Lig broadcaster Digiturk

Turkish Super Lig

Qatari media group beIN Sports are on the verge of completing the takeover of Turkish Süper Lig broadcaster for a reported $1.5 billion according to Bloomberg.

The report states that the deal could go ahead within the next few weeks.

Çukurova Holding is set to sell its 53 percent stake as is US based company Providence Equity that owns the other 47 percent.

The Çukurova Holding group is selling to pay back the governments Savings Deposit Insurance Fund (TMSF) who seized the assets of the holding as compensation for unpaid debts in 2013.

Digitürk has more than 2.7 million customers and holds the rights to broadcast Turkish Football League matches until the 2016-2017 season.

The company has broadcast Turkish Süper Lig games via its affiliated sports channel Lig TV since 2001.

Lig TV airs every league game and additionally hosts football related programs.

The league’s broadcasting value has seen a 40 fold rise in 16 years and Digiturk has a $560 million-a-year deal for exclusive rights to the Super Lig.

The Turkish league viewing rights are currently the sixth most valuable in Europe and rapidly catching up with the continents elite.

Digiturk has been pushing for overseas coverage of the Turkish League and recently struck a two-year deal with MP & Silva to distribute a weekly highlights package for the Turkish Super League.

The beIN Media Group owns Al Jazeera and operates in Europe, Asia and the United States with its Bein Sports channel.