Turkish authorities have shut down media businesses seized last year from Koza Ipek Holding, a conglomerate linked to a US-based preacher accused of plotting against President Tayyip Erdogan, according to an exchange filing.
The state seized Koza Ipek and its media outlets, including the newspaper Bugun and television station Kanalturk, in October on suspicion of financial irregularities.
“Operations were halted due to constant losses and the depletion of capital, while (the firms’) corporate entities will be retained,” the stock exchange filing, which was released late on Monday, said.
Fethullah Gulen is wanted for allegedly running a “parallel” structure within state institutions that sought to topple Erdogan who has led Turkey since 2003.
Erdogan clamped down on Gulen’s commercial interests after police and prosecutors considered sympathetic to the preacher opened a graft investigation of Erdogan’s inner circle in 2013. He has also purged police and judiciary.
The authorities said at the time that the raid on parent company Koza Ipek was part of an investigation into alleged financial irregularities and was backed by a court order.
Source: Arab News