Ringier AG and Doğan Yayın Holding A.Ş. (DYH) are joining forces to invest in and take advantage of the opportunities in the broadcasting business in Romania.
Ringier AG and DYH are to sign a share purchase and shareholder´s agreement, in which Ringier will hold 25% of Kanal D Romania (Doğan Media International SA), scheduled to start broadcasting on February 18.
Mehmet Ali Yalçındağ, DYH CEO, stated that "DYH is following a strategy to establish itself as a prominent player in emerging and fast growing media markets globally; and this initiative is an important step in line with that strategy. Ms. Begümhan Doğan Faralyalı, DYH Vice President and President of Kanal D Romania added that "The partnership with the strongest print media group in Romania, Ringier, will provide us with local know-how and combine the strengths of two leading European media players under the roof of Kanal D Romania."