Düsseldorf, December 3, 2008—Shearman & Sterling is advising Axel Springer Aktiengesellschaft on the acquisition of a minority interest in the Turkish media group Doğan Yayın Holding A.Ş. as well as on the partial sale of shares in Doğan TV Holding A.Ş.

Axel Springer Aktiengesellschaft and Doğan Şirketler Grubu Holding A.Ş. entered into an agreement under which Axel Springer will acquire approx. 10 % in Doğan Yayın Holding A.Ş. Doğan Yayın Holding is the leading Turkish media group, which includes majority participations in the newspapers Hürriyet, Milliyet und Posta, shareholdings in the magazine company Doğan-Burda, and a majority stake in Doğan TV Holding A.Ş.

In addition, Axel Springer is selling 5.1% of the shares in Doğan TV Holding A.Ş. to Doğan TV's parent company, Doğan Yayın Holding. Currently, Axel Springer holds a 25% stake in Doğan TV.

Axel Springer AG has been advised by the following Shearman & Sterling attorneys: partner Rainer Wilke (Düsseldorf-Corporate/ M&A) as well as associates Thankmar Wagner (New York/ Düsseldorf-M&A), Sebastian Horz (Düsseldorf-M&A), Christian Appelbaum (Düsseldorf-M&A) and Bodo Bender (Frankfurt/Düsseldorf-Tax).

For additional information contact:
Hans Jürgen Meyer-Lindemann | Düsseldorf | T +49.211.17888.719 |