Thursday, September 11, 2008

They might be fighting a tough battle, but at least they have equity analysis on thir side...

Turkish daily Hurriyet is at the forefront in the battle between PM Erdogan and MM (media mogul) Dogan, in fact to such an extent that a rival media group's (Calik, which is perceived to be very close to the ruling AKP, with the PM's 27 year-old son-in-law as the group's CEO- the PR of Calik beware: I have empirical evidence for this last statement -for the perception, not the CEO's age, as I was not present at his conception) in a paper I am currently working on, which I will discuss in my blog as soon as I done with a few topics I'd like to cover first) principal daily Sabah today published an article titled: News that are not published in Hurriyet:

But Hurriyet has the equity analysis on its side, for now: A Merrill Lynch (did I spell it right?- I never know quite how many r's and l's I need) report finds it "undervalued and a relative trade versus DYH", its parent company. Hmmm, I never made much sense of those ratios, but an alternative explanation: Hurriyet wins the battle of the newspapers, but PM Erdogan strikes with a vengeance against MM Dogan... Joking aside, the analysts also note that "Hurriyet is not low risk, we think, all the more so with ongoing tension between the governing AKP and Hurriyet's owner Dogan. Anyway, if you are interested, the full report is here:

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