Aydın Doğan sells another company

Doğan Holding has sold its remaining 40 percent stake in the music production company Doğan Müzik Yapım (DMC) to the French firm Believe International. 

Believe, which became a partner in DMC in 2020, has now become the sole owner of the company following this latest sale.

In a statement to the Public Disclosure Platform (KAP), Doğan Holding announced that the remaining 40 percent stake in DMC was transferred to Believe International for 38.2 million Euros. This sale was completed following the sales plan announced in August 2023.

KAP STATEMENT

In the statement made by Doğan Holding, it was recalled that Believe International had purchased a 60 percent stake in DMC in 2020, and the following remarks were included:

“Believe International purchased a 60% stake in Doğan Müzik Yapım ve Ticaret A.Ş. (DMC) from our company's indirect subsidiary, DMC Invest B.V., on July 21, 2020. Now, the sale and transfer transactions of the remaining 40% stake held by DMC Invest B.V. to Believe International have been completed for a price of 38,275,245 Euros.”

With this sale, the world-renowned digital music company Believe International has become the sole owner of DMC, one of Turkey's leading music production companies. 

WHO IS AYDIN DOĞAN?

Aydın Doğan is the Honorary Chairman of Doğan Holding. Doğan was born in Gümüşhane in 1936. After completing his high school education in Erzincan, Doğan continued his university studies at the Istanbul Higher School of Economics and Commerce, which later became Marmara University.

Establishing his own company in 1958, Doğan worked in his early years as a trader of tires, bicycles, radios, commercial vehicles, business and construction machinery, as well as in transportation and contracting. Until 1970, he was also involved in grain trading and pharmaceutical warehousing.

After 1974, following his membership in the Assembly and Board of Directors of the Istanbul Chamber of Commerce, he served as a member of the Board of Directors of the Union of Chambers and Commodity Exchanges of Turkey. He has been among the tax record holders of the Istanbul Chamber of Commerce since 1977.

Entering the media sector in 1979 by purchasing the Milliyet newspaper, Doğan became the President of the Turkish Newspaper Owners' Union.

In 1998, at the World Association of Newspapers meeting held in Tokyo, he became the first person from Turkey to be elected to the Board of Directors. In 1999, he was awarded the Republic of Turkey State Medal of Distinguished Service, and in the same year, he received honorary doctorate titles from Girne American University and in 2000 from Ege University.

In 2004, he became the first Turk to be elected as Vice President of the Board of Directors at the World Association of Newspapers (WAN) meeting.

In 1996, he established the Aydın Doğan Foundation, bringing his services in the fields of culture, education, and social affairs under one umbrella.

News Source: 12punto