Foreign ownership in broadcasting companies is limited to 50%, in up to two companies per foreign investor. Indirect holdings are not covered by these limits.
"ARTICLE 19 – (1) Private media service providers must comply with the following provisions regarding their company structures and share percentages: [...]
f) The proportion of total direct foreign capital in a media service provider cannot exceed fifty per cent of the paid-in capital. A foreign real person or legal entity can directly hold shares in at most two media service providers. If foreign real persons or legal entities hold shares in companies that are shareholders of media service providers and become indirect shareholders of the broadcasters, the chairman, the vice chairman and the majority of the board of directors and the general manager of such broadcasters shall be Turkish citizens, and the majority of the voting rights in the general assemblies of such broadcasters shall belong to real persons or legal entities having Turkish citizenship. In the articles of association of companies, the arrangements ensuring these provisions shall be stated clearly. [...]" (Law on Establishment and Media Services of Broadcasting Institutions (No. 6112 of 2011), last amended by Law No. 7196 of 2019, Article 19 [unofficial translation not including amendments])
Law on Establishment and Media Services of Broadcasting Institutions (No. 6112 of 2011), last amended by Law No. 7196 of 2019, Article 19 
[<a href="https://www.mevzuat.gov.tr/mevzuat?MevzuatNo=6112&MevzuatTur=1&MevzuatTertip=5">Law</a>],[<a href="http://www.lawsturkey.com/law/law-on-the-establishment-of-radio-and-television-enterprises-and-their-media-services-6112">Law_Eng</a>]