Çalık Holding
2008

Çalık Holding Acquires ATV-Sabah

Çalık Holding offered $1.1 billion for ATV-Sabah and won the tender organized on December 5, 2007, by the Savings, Deposits and Insurance Fund (TMSF). The Holding company concluded the $1.1 billion takeover of the media group yesterday and signed the transfer agreement.

Consequently, all rights and properties of ATV-Sabah Economic and Commercial organization have been transferred to Turkuvaz A.Ş.

As Turkuvaz Radio and Television Journalism and Publication Company, we acquired the entire media group yesterday, paying cash for the tender and signing the transfer agreement.

Turkuvaz A.Ş now owns ATV television; the Sabah, Takvim, Günaydın, Yeni Asır and Pas Fotomaç newspapers; Radio City radio station; Bebeğim ve Biz, Sinema, Sofra, Home Art, Şamdan Plus, Yeni Aktüel, Para, Global Enerji, Transport, Hukuki Perspektifler magazines, with all rights and properties.

Of great interest to the Turkish media sector, this transfer was partially financed through a $750 million project loan from Vakıfbank and Halkbank. The remaining $500 million was financed by resources of our group and partners. As a result of this sale, Turkuvaz Media Group now has the highest paid capital of all media groups in Turkey.

Since the tender date, we would like to note that we are honoured to have received partnership offers from many national and international companies. Among these companies, we have selected the Qatarian media corporation, Al Wasaeel International Media Company, which we believe has the largest potential for creating synergy with our company. Our negotiations with Al Wasaeel has resulted in a partnership agreement with their having a 25% share in Turkuvaz Radio and Television Journalism and Publication Company, according to regulations and the tender specifications. This partnership adds a new link to the chain of partnerships and strategic collaborations among leading corporations in different sectors throughout the globe.

"Responsibility and ethics in publishing is our fundamental policy"
Thanks to their long-standing success guided by responsible publishing principles, the properties included in this tender, especially ATV and Sabah, have become substantial and valuable brands in the Turkish media. Pioneering many innovations, contributing to the development of the sector and safeguarding the public's freedom of information, these groundbreaking brands commends great respect. Under the roof of Turkuvaz, these brands will continue providing and further ameliorating their services.

We would like to also re-emphasize a point highlighted on the day of the tender: As Çalık Holding, we are well aware of the fact that operating in the media sector goes far beyond carrying out business as usual. It introduces many unique corporate social responsibilities. Responsible and ethical publishing will be the foundation of our publishing policy. From an innovative perspective, we intend to maintain and even outpace the present success of Sabah, ATV and all of our brands.. ATV and Sabah will continue to keep the public informed with its objective, ethical and unbiased journalism.

Collectively, we will strive to further raise the prestige and to increase the value of these prominent brands. Without equivocation, our employees created, further developed and perpetuated these brands. We extend our gratitude to everyone who contributed to creating these values and to carrying them into the present day despite many difficulties. We are strongly determined to do our best for the welfare and well being of our employees.

Founded in the 1930s, the long-established Çalık Holding Group has taken a fresh step into the media sector with this acquisition. In the first few years following its establishment, Çalık Holding operated in textile production and marketing. However, its main activities extended into other sectors over time. Çalık Holding, which provides employment opportunities to more than 15,000 people, reached total assets of $3 billion by the end of 2007. Together with the media group, our number of employees will now reach 18,000.

Operating both nationally and globally with its many companies in the energy, telecommunications, construction, finance, textile and commercial sectors, Çalık Holding is a conglomerate with an international competitive edge. As a founding principle it has always believed in giving back to our country and our people. We have always aimed at strengthening our country's interests with new projects.

With the proud mission of representing Turkey in the international arena, Çalık Holding will make every effort to turn our subsidiaries in the media sector into stronger and more prestigious brands.

We wholeheartedly wish that this transfer is beneficial to the country, the media sector and our employees.

Turkuvaz Radyo Televizyon Gazetecilik ve Yayıncılık A.Ş.