World Bulletin/News Desk
Turkish newspaper and media group Star Media confirmed on Wednesday that it was in acquisition talks with the State Oil Company of Azerbaijan Republic (SOCAR), various Turkish news outlets reported on Wednesday.
Sources within Star were quoted by the Anatolia news agency as saying that the Azeri oil giant would near the end of a long negotiation with the media group this week, likely securing the purchase of the Star daily and Kanal 24 television, two of Turkey's largest media outlets.
Reports of the deal saw contradictory reports about the state of the agreement, however, with some sources quoted by Anatolia suggesting a deal was near, while Star Media Group partner and chairman of the Rixos chain of luxury hotels Fettah Tamince told the Akşam daily that the deal would be “hashed out in the coming days” and that his future stake in Star media “was not yet clear.”
Star Media is owned by Tamince and Tevhit Karakaya and was purchased by Tamince from Ethem Sancak in 2009. The Star daily was founded in 1999 and later purchased by Turkish Cypriot businessman Ali Özmen Safa in 2006.Last Mod: 25 Nisan 2013, 15:10