APA reports quoting Turkish Hurriyet newspaper that long-lasting negotiations between “Star” Media Group and SOCAR Media Public Union ended with the agreement on sale.
Chairman of Turkish "Rixos" Hotels and Star Media Group's partner Fettah Tamince said that they started negotiations with SOCAR Media Public Union 10 days ago. There is no information about the value of the deal yet.
The aforementioned Media Group was owned by businessmen Fettah Tamince and Tevhit Karakaya. The Media Group includes Kanal 24 television and Star newspaper.
Tamince bought the shares of “Star” from businessman Edhem Sancak in 2009.
Star daily was founded by the Uzan Group in 1999. The newspaper was confiscated by the state in 2004 over the debts of the Uzans and sold to Turkish Cypriot businessman Ali Özmen Safa for $8 million in 2006.
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