Dogan Yayin is also preparing to sell its flagship Hurriyet
The starting price for the assets on sale, other than Hurriyet, was expected to be $1.6-$1.8 billion, and U.S. private equity funds KKR
Dogan Yayin said in a statement to the stock exchange that Goldman Sachs was continuings due diligence with serious non-binding bids, adding the process may not end in a sale.
A Dogan Yayin official declined to comment on plans for Hurriyet's sale.
HURRIYET SHARE SOARS, DOGAN GAIN TOO
International expansion is one of Time Warner's top priorities as it seeks to expand its holdings in emerging regions like Latin America, India, Central and Eastern Europe. Time Warner is already a partner with Dogan in a joint venture which operates CNN Turk news channel.
A Time Warner spokesperson declined to comment.
Dogan Yayin, embroiled in a legal battle against crippling tax fines, said last month that while it was selling media units it would not withdraw from the sector entirely.
Hurriyet shares jumped as much as 15 percent to 2.14 lira and closed 13.4 percent higher at 2.11 lira, with Dogan Yayin shares up 2 percent at 2.03 lira and parent company Dogan Holding
In October, Dogan Holding sold its controlling stake in fuel retailer Petrol Ofisi
(With additional reporting by Jennifer Saba in New York. Editing by Simon Cameron-Moore and David Cowell)