FTI Capital Advisors Advises Turkish SVOD Platform BluTV on 35% Equity Investment by Discovery
Discovery Inc. Has Agreed to Invest in BluTV, Turkey’s First and Largest Local Subscription Video-on-Demand Service, Which Is Globally Available to All Turkish- and Arabic-Speaking Audiences.
Washington, D.C., March 19, 2021 — FTI Consulting, Inc. (NYSE: FCN) today announced that FTI Capital Advisors has acted as financial advisor on the funding round for BluTV, Turkey’s first and largest local subscription video-on-demand (“SVOD”) service.
The investment, with an option to invest in BluTV further in the coming years, will help accelerate Discovery’s entrance into the Turkish market of 83 million people and allow BluTV to scale its penetration of the rapidly growing 4 million-plus subscribers in the SVOD universe.
Fede Membrillera, a Senior Managing Director at FTI Capital Advisors (DIFC) Ltd. in Dubai, said, “This is a notable deal for the industry and the region, and we are proud to have contributed to making it happen. It is also a testament to BluTV’s relentless execution, delivered by a team that combines an innate entrepreneurial drive with second-to-none expertise in the media industry. We look forward to supporting the next wave of homegrown champions.”
The strategic partnership will also make BluTV the SVOD home of all content from Discovery’s global and local brands, including Eurosport’s premium sports offering. Discovery will also be able to access BluTV’s original Turkish original content for Discovery+ outside of Turkey.
Kasia Kieli, President and Managing Director of Discovery EMEA, said, “Turkey has been an important investment market for Discovery for 20 years, and we are proud of our position as one of the leading international media companies in the country. Our investment in BluTV and our strategic partnership will represent our entry to the Turkish OTT market with the largest local SVOD player in the country. It will strengthen our multi-channel strategy in the market and will also provide access to powerful Turkish content that is increasingly finding audiences around the world. We are delighted that BluTV subscribers will soon be able to enjoy our Discovery content whenever and wherever they what. We are excited to start this journey together with BluTV.”
Aydın Dogan Yalçındağ, Founder and Chief Executive Officer of BluTV, said, “We are thrilled to welcome Discovery, one of the world's leading media and entertainment companies, as our new strategic partner. BluTV has pioneered the growth of the Turkish SVOD market by focusing on combining original content production with a carefully curated library of local and international content. We are happy to have a new partner which shares our vision and strategy and will take BluTV to the next phase of growth. The FTICA team has been instrumental to the deal, bringing in their deal-making and industry expertise. Since the very beginning, they understood and enhanced our equity story, which they complemented by attracting the right interest.”
FTI Capital Advisors LLC (“FTICA”) is a boutique middle market investment bank which specializes in M&A, capital raising, valuation and opinions, and special situations mandates across targeted industry sectors – including deep credentials in telecom, media and technology (“TMT”) sector, as well as in the energy, real estate, healthcare and industrial sectors. Backed by the power of FTI Consulting’s worldwide network of professionals, FTICA combines deep industry expertise and extensive C-suite relationships with investment banking and transaction execution experience to deliver value enhancing outcomes for our clients.
This deal was performed by FTI Capital Advisors (DIFC) Ltd, an affiliate of FTICA. FTI Capital Advisors (DIFC) Ltd. is regulated by the Dubai Financial Services Authority (“DFSA”), the financial regulatory agency of the special economic zone, the Dubai International Financial Centre (“DIFC”), in Dubai, UAE. FTI Capital Advisors (DIFC) Ltd is authorized to provide services to Professional Clients only, accordingly, this press release is intended for Professional Clients only, and no other person should act upon it.
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Source: FTI Consulting, Inc.