The Turkish cable TV network Digitürk has officially been sold to Qatari BeIN Media Group, the sports arm of Al Jazeera network. The deal was signed on Thursday after a 3-year audit by the Savings Deposit Insurance Fund of Turkey (TMSF), according to the Turkish Sabah daily newspaper.
BeIN will make the payment after a 60-day period to avoid any rejections that may lead the company to legal action. The chief executive officer of Digitürk, Ümit Önal, said that Qatar will make 60 percent of the total payment in 2016 and pay the balance in 2017.
The parties did not state the exact amount of payment, but it was estimated that the purchase cost more than 1 billion dollars. Nasser Al-Khelaifi, the Qatari businessman who purchased Digitürk, also owns Paris Saint-Germain Football Club.