Koza Davetiye, Ipek’s greeting card firm, announced it had taken a 99.9 percent stake in Kanalturk in a statement issued to the Istanbul Stock Exchange late Monday.
Ipek, who is known to be close to the government and whose paper Bugun takes a pro-government line, did not reveal what price was paid for Kanalturk.
Under Ozkan, Kanalturk had a pro-nationalist line and was often critical of the ruling Justice and Development Party (AKP).
Koza Davetiye had previously sought to expand its media arm, having been part of a consortium bidding for the television network ATV and newspaper Sabah, where were sold off early this year at a state held auction after being taken over by authorities for failure to pay debts.
