MUMBAI: Al Jazeera has offered $21 million to acquire the Turkish channel Cine 5.

The Qatar-based news network was the only party to place a bid for Cine 5, which is being auctioned off for the fifth time.  
     
  The amount Al Jazeera is willing to pay is just over half the $40 million being sought by the Savings Deposit and Insurance Fund (SDIF).

The bid is set to be referred to a higher board on 4 February, which would decide whether to dismiss the bargain or continue further.

Even if the bid fails, Al Jazeera plans to launch broadcast in Turkish in the first quarter of this year.