Time Warner, News Corp. bid for Sabah

Time Warner, News Corp. and equity group Texas Off-shoreline have placed formal bids to obtain Turkish media group ATV-Sabah, Reuters reported Monday from Istanbul, as U.S. media congloms searching to build up look for assets in overseas and emerging areas.Sabah is an element of Calik Holding, which has interests in energy and finance. Bids were mentioned being near to the $1 billion value.The chance M&A business on tv appears being starting to warm up as equity finance with cash to get rid of has came back in pressure, rivaling proper customers on some deals. Furthermore, billionaire investor and three-time who is the owner of MGM, Kirk Kerkorian, is mentioned being back round the prowl too for U.S. or worldwide entertainment assets. Contact the number newsroom at news@variety.com