CanWest's Turkish subsidiary to acquire Joy FM and Joy Turk FM

WINNIPEG – More Turkish radio stations are on the horizon for CanWest Global Communications.The company officially announced today (which was reported here last month) that subsidiaries of its Turkish partner, Turkcom Iletisim Hizmetleri A.S. (Turkcom) have agreed to acquire Joy FM and Joy Turk FM from The Turkish Savings and Deposit Insurance Fund. The two radio stations serve Istanbul, Turkey's largest city (population - 11.3 million). The aggregate purchase price for the two stations will be US$5 million. Completion of the acquisitions are subject to certain regulatory approvals. CanWest believes the Turkish market is a wealth of opportunity and told...