BREAKING NEWS

Al-Jazeera bids for Turkish TV station

By ASSOCIATED PRESS

FEBRUARY 4, 2011 14:01

ANKARA, Turkey — The Anatolia news agency reported that Al-Jazeera has offered $40.5 million to acquire Turkey's state-administered Cine5 TV channel.

The news agency said the Qatar-based news network, which plans to start up a news channel in Turkey, was the sole bidder in an auction Friday.

The channel originally offered $21 million for Cine5, but the bid was below Turkey's minimum asking price of $40 million.

A government-run fund has administered Cine5 since its owner's business ran into trouble. The fund has to approve the bid before the sale is finalized.

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