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BUSINESS > Karacan Group execs arrested in media probe

ISTANBUL - Hürriyet Daily News

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Several executives and workers of Karacan Group were taken into custody yesterday in an investigation launched after disputes broke out last year between Karacan Group and Demirören Group, which acquired two rooted dailies, Milliyet and Vatan, in equal partnership.

The investigation was launched after a conflict arose between the groups regarding debts and liabilities of the subsidiaries that acquired the newspapers from Doğan Holding, which also owns the Hürriyet Daily News. The journalists of the papers in a common voice had earlier invited the Karacan family to either withdraw their ownership or to fulfill the liabilities.

Meanwhile, Karacan sold its stakes last week in Milliyet and Vatan newspapers to Demirören Group, Ali Karacan told broadcaster Bloomberg HT yesterday. “I have no knowledge of the operation [arrests],” he said.

February/09/2012

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