CanWest going to Turkey for US$33.1 million

WINNIPEG and ISTANBUL – After an auction this morning, CanWest Global Communications announced today that it’s the winning bidder for Super FM, a radio station based in Istanbul that reaches across Turkey. The auction was conducted earlier today by the Turkish Savings and Deposit Insurance Fund (the Fund), CGS Televizyon Ve Radyo Yayinciligi Ticaret Anonim Sirketi (CGS) has been awarded the right to acquire the assets of Super FM. CanWest holds an indirect 25% interest in CGS with the remaining 75% interest being held by Turkcom Iletisim Hizmetleri Anonim Sirket (Turkcom). The total consideration bid by CGS for Super FM was...