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Azerbaijani state oil company tipped to buy Turkey’s Star

Turkish TV company Star Media is reportedly close to being acquired by the State Oil Company of Azerbaijan Republic (SOCAR).

Turkish daily newspaper Hürriyet first reported yesterday that the media and state oil companies were in talks and other Turkish outlets later confirmed the story.

Star comprises the Kanal 24 channel and the Star newspaper.

The news follows Star’s part-owner and chairman, tourism magnate Fettah Tamince, saying talks were underway with potential suitors about the sale of Star. Turkish news sources report Tamince as saying the SOCAR-Star deal will be sealed this week.