ANNOUNCEMENT 15 Feb 2011In February 2011, the government of Turkey announced changed rules for foreign investors.
NUMBER OF INTERVENTIONS
Law No. 6112
Title: 6112 Sayili Radyo ve Televizyonlarin Kurulus ve Yayin Hizmetleri Hakkinda Kanun
On 15 February 2011 the Turkish Government have passed law no. 6112 amending the law no. 3984. The new regulation increases the foreign ownership ceiling for radio and television enterprises to 50% of available shares, up from a 25% limit.
Furthermore, foreigners are now allowed to hold shares in a maximum of two (rather than one) such enterprise.
Finally, a condition has been added stating that if foreign companies hold indirect shares in broadcasting enterprises the chairman, the vice-chairman, the board of directors and the general manager of such broadcasters shall be Turkish citizens (Article 19f in chapter Six).