August 20, 2013 Europe/London By Chris Dziadul
Time Warner may be thwarted in its efforts to buy the Turkish TV station ATV.
Local reports say that the Turkish government favours handing stakes in ATV to the newly emerging media tycoon Cengiz-Limak-Kolin consortium, which recently entered the media market by buying – amongst others – the TV channel Skytürk.
ATV is currently owned by Turkey’s Çalik Holding, which has close ties to the government, and has attracted interest from both Gulf investors and Time Warner.
Indeed, some reports say that Time Warner reached an agreement to buy ATV back in May