08.07.2024 16:50
The Doğan Burda Magazine Group, owned by Aydın Doğan and established in 1988, has been sold for 10 million dollars. Aydın Doğan, who sold his shares after 36 years, has completely withdrawn from the media after a total of 45 years.
Doğan Burda Magazine Group, established on July 21, 1988, in partnership with Doğan Holding and German Hubert Burda group, was sold to an investment fund group. According to the announcement made by Doğan Burda to the Public Disclosure Platform (KAP), the sale was made for a price of 10 million dollars.
COMPLETELY WITHDRAWN FROM MEDIA In 2018, Aydın Doğan and Doğan Holding, who sold Doğan Media Group to Demirören Holding, completely withdrew from the media sector with the sale of Doğan Burda. Doğan entered the media sector 45 years ago by acquiring Milliyet in 1979. The shares of Doğan Burda, with a 38.22% share owned by Doğan Şirketler Grubu Holding and a 38.09% share owned by Burda GmbH, are traded among other partners and on BIST with a 23.69% share.
ANNOUNCEMENT TO KAP The announcement made to KAP from Doğan Burda Magazine Group, whose Chairman of the Board of Directors is Çağlar Göğüş and General Manager/Executive Board Chairman is Cem Başar, is as follows: "According to the 'Share Transfer Agreement' dated 08/07/2024, signed between Doğan Holding, Burda GmbH, and the Buyers, the total of 14,924,590 shares representing 76.30% of the paid capital of our company, which is 19,559,175 Turkish Liras; 7,474,920 shares (38.22% share) owned by Doğan Şirketler Grubu Holding A.Ş. (Doğan Holding) and 7,449,670 shares (38.09% share) owned by Burda GmbH, were sold for a total price of 10,000,000 US Dollars (Sale Price) with some adaptations (Transaction)."
According to the aforementioned 'Share Transfer Agreement'; it is aimed to transfer all shares representing the capital of Dergi Pazarlama Planlama ve Ticaret A.Ş., in which Doğan Holding owns 56% and Burda GmbH owns 44%, to our company according to the appraised value in the valuation report. It is anticipated that the transaction will be completed upon the realization of all closing conditions, including but not limited to the notification to the Competition Authority. Considering that a special situation disclosure that can be made regarding the sale of these shares may harm the legitimate interests of our company, the announcement has been postponed. Respectfully announced to our shareholders and the public."
SOLD DOĞAN MEDIA GROUP IN 2018 Doğan Media Group, which includes CNN Türk, Kanal D, Hürriyet, Posta, Fanatik, Doğan Haber Ajansı, and D Smart, was sold to Demirören Holding in March 2018, while Doğan Burda Magazine Group, whose shares are traded on Borsa Istanbul as a publicly traded company, was excluded from this sale.
"I PRESSED THE BUTTON AND DESTROYED" Aydın Doğan, whose influence on ruling parties was known with the power of his media in the past, had long-lasting words in the public opinion with his statement "During the Welfare-Path Government, the Ministry of Finance, Treasury, and Foreign Trade Undersecretariat started to come after me. They started to examine my accounts. I had two months left. Either I said, or the 54th Government. I pressed the button and destroyed. If I hadn't destroyed the government, I would have been destroyed."