Turkey’s Savings Deposits Insurance Fund (TMSF) has taken control of the management of a number of Turkey’s best known media companies, after irregularities in their sale were uncovered.

Among the outlets seized were the national daily newspaper Sabah and television stations ATV and Kanal 1.

In total, 63 companies were taken over by TMSF. The seizures stemmed from secret protocols signed in 2002 by the former owner of the companies, Dinc Bilgin, which transferred the outlets to Turgay Ciner.

"It is documented that Dinc Bilgin and Turgay Ciner acted collectively in the media sector, made fictitious transactions and mislead the TMSF," the TMSF said in a statement issued late Sunday. "In such a case, the protocols that they sign with us are invalid."

Source: NTVMSNBC, Turkey, April 2, 2007