Springer buys 10% of Turkey's Dogan Group

Springer retains a 25% stake in Dogan Television

COLOGNE, Germany -- German media group Axel Springer has taken a 10% stake in Turkish giant Dogan Yayin Holding, furthering Springer’s strategy of diversifying outside the German market.

Springer will receive a seat on Dogan’s management board. Former RTL Television head Helmut Thoma is expected to fill the post.

Springer also sold Dogan back a 5.1% stake in its broadcasting division Dogan TV. The swap means Dogan will on balance pay Springer 30 million euros ($38 million). Springer retains a 25% stake in Dogan TV.
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