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Al Jazeera moves into Turkey
Al Jazeera has acquired the Turkish channel Cine 5 for $40.5 million (�29.6 million).
According to Hurriyet, the sale has been approved by the Savings Deposit Insurance Fund (SDIF) and will now require the additional approval of the Turkish Competition Authority and Supreme Board of Radio and Television (RTÜK).
Al Jazeera had earlier bid $21 million but almost doubled the amount on February 4, after Cine 5 had been put up for sale for a fifth time for $40 million.
Al Jazeera also plans to launch a news-based channel in Turkey.
According to Hurriyet, the sale has been approved by the Savings Deposit Insurance Fund (SDIF) and will now require the additional approval of the Turkish Competition Authority and Supreme Board of Radio and Television (RTÜK).
Al Jazeera had earlier bid $21 million but almost doubled the amount on February 4, after Cine 5 had been put up for sale for a fifth time for $40 million.
Al Jazeera also plans to launch a news-based channel in Turkey.