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Friday, April 12, 2013

Talks progress on sale of Calik's ATV to Time Warner-sources, (NASDAQ: NWSA), (NYSE: TWX)

Turkey's Calik Holding has made progress in talks to sell its ATV television unit to Time Warner Inc and a final decision could be made by the end of April, two sources close to the matter told Reuters on Friday.Dubai-based Abraaj Capital is also interested in Calik's media assets, the sources said. Rupert Murdoch's News Corp had been eyeing ATV but dropped out of the race last year, other people said at the time."There are positive developments regarding Time Warner Group but the process is not yet completed. It should become clear at the end of April whether the sale will happen or not," said one source.Calik declined to comment. Company officials at a Time Warner office in London could not immediately be reached.

News Corporation is a diversified global media company. Shares of NWSA remained unchanged at $31.58. In the past year, the shares have traded as low as $13.55 and as high as $24.04. On average, 19309000 shares of NWSA exchange hands on a given day and today's volume is recorded at 0.

Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX remained unchanged at $59.66. In the past year, the shares have traded as low as $33.62 and as high as $59.82. On average, 6722300 shares of TWX exchange hands on a given day and today's volume is recorded at 200.



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