"TPG, (News Corp's Rupert) Murdoch and Time Warner placed bids. I know TPG is very aggressive," said a source close to the deal, adding the submitted bids were around $1 billion, near the asking price.
He said the sale process could be completed in February.
Çalık bought ATV-Sabah for $1.1 billion in 2007 from the Savings, Deposits and Insurance Fund (TMSF). Çalık took on $750 million of bank debt in April 2008 to finance that acquisition.