The channel was set up by media mogul Erol Aksoy in 1993 as Turkey’s first subscription-based TV channel but was confiscated by the TMSF in 2004 when Aksoy was delcared bankrupt and his empire collapsed.
After inviting TMSF offers for Cine5 TV (along with Viva TV, Radyo Viva and Show Radyo), the TMSF rejected Al Jazeera’s earlier US$21m bid.
Cine5 TV faded from commanding 700,000 paying subscribers to becoming a free service in 2006, and was returned briefly to Aksoy who faied to honour his financial obligation. Its acquisition by Al Jazeera is now awaiting final approval from both the Radio and Television Supreme Council (RTÜK) and the Competition Board. If approved, Al Jazeera has said it will launch broadcasts in Turkish in the first quarter of 2011.
