Chairman of Board of Star Media Group, businessman Ethem Sancak told APA’s correspondent to Turkey.
Sancak said that the matter was resolved without any misunderstanding. “We respected their decision. Everything took place in a friendly atmosphere. SOCAR sold all its stakes to us”, he added.
In April, 2013 Star Media Group sold 50 percent stakes of its Star newspaper, Kanal 24 television, Star Medya Yayıncılık, Star Medya Ajans, Star Matbaacılık və Dinamik Radyo companies to SOCAR Turkey Energy. However, some times ago SOCAR Turkey Energy decided to exit the media sector.
Head of the Public Relations Department of SOCAR Nizamaddin Guliyev said that OCAR is an international business company which purchases various assets depending on their economic efficiency and in the case of economic benefits sells them. Guliyev also noted the issue of share sale is associated with fluctuations in the market value of those assets and economic efficiency.
Chief executive officer at SOCAR TurkeyEnergy Kenan Yavuz said that the company couldn’t devote enough time to media. “As we are focused on the biggest project of Turkey we had to exit the media sector and we intend to achieve great results in these projects.
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