Sabah was founded by Dinç Bilgin in 1985. After Turkey's Savings Deposit Insurance Fund (TMSF) confiscated Dinç Bilgin's Etibank, Turgay Ciner purchased ATV and Sabah in 2005. In 2008, ATV and Sabah had been acquired by Çalık Group, close to AKP, for $1.1 billion in an auction. The Competition Board approved the sale of ATV-Sabah to Zirve Holding, owned by Kalyon Group, in 2013. The daily is known for its support for President Erdoğan and the ruling AKP.
Media Companies / Groups
According to Article 434 of Turkish Commercial Code, shareholders in corporations ('Anonim Şirket’) use their voting rights in proportion with their shares’ nominal value. Each shareholder has at least one vote, however voting rights might be limited, or given more weight with articles of association. Moreover, public companies may issue shares without voting rights according to Article 14/A of Capital Markets Law.
Affiliated Interests Founder
Dinc Bilgin was a media tycoon who founded many media outlets including Sabah, Takvim, Yeni Yuzyil, Fotomac newspapers. He was also the founder of ATV, one of the leading TV stations.
Ömer Faruk Kalyoncu
Affiliated Interests Ceo
Ömer Faruk Kalyoncu is CEO of Zirve Holding which owns Turkuvaz Medya Group. He is the son of Hasan Kalyoncu, founder of Kalyon Group. His uncle Orhan Cemal Kalyoncu is the CEO of Kalyon Group. In 2004, President Recep Tayyip Erdogan who was the prime minister back then was a marriage witness in his wedding. Abdullah Gül, Abdülkadir Aksu, Recep Akdağ, Hüseyin Çelik, Cemil Çiçek, Hilmi Güler, Zeki Ergezen, Sami Güçlü and Osman Pepe, who were AKP ministers then, were also among guests in the wedding. Turkish Competition Board approved the sale of Sabah-ATV to Zirve Holding, owned by the Kalyon Group, which is active in the construction, energy and infrastructure sectors.
Haluk Kalyoncu (the son of Hasan Kalyoncu, the founder of the Kalyon Group) and Yelda Demirören (the daughter of Yıldırım Demirören, the Chair of the Board of Directors of Demirören Holding) got married on April 13, 2019. President Erdoğan and his wife Emine Erdoğan were the marriage witnesses.The marriage was reported as the company marriage of Turkuvaz and Demirören Groups.
Affiliated Interests Editor-In-Chief
Erdal Şafak was born in 1945. He studied economics. Şafak started to work as a journalist in 1970 in İzmir. He worked in several daily newspapers such as Hürriyet, Yeni Asır, Günaydın, and Sabah.
Other Important People
Affiliated Interests other important people
Serhat Albayrak is vice chairman of Turkuvaz Media Group. He is the brother of Minister of Energy Berat Albayrak, son-in-law of President Recep Tayyip Erdogan. He was a board member of Calik Holding, former owner of Sabah and ATV, until he became the CEO of Star newspaper 2006.
Address: Barbaros Bulvarı Cam Han No: 153 Beşiktaş / İstanbul - Phone: 0212 354 30 00 - Website: www.sabah.com.tr
Revenue (in Mill. $)
Operating Profit (in Mill. $)
Advertising (in % of total funding)
(20.12.2013) Sabah ve ATV Kalyoncu'a Satıldı. Hürriyet. Retrieved in October 2016 from: http://www.hurriyet.com.tr/sabah-ve-atv-kalyona-satildi-25407253
(13.02.2014) 9 Soruda Sabah ATV Satışı. Diken. Retrieved in October 2016 from: http://www.diken.com.tr/9-soruda-sabah-atv-satisi/
Shareholder information in public records albeit available necessitates some research skills and thus is not made easy for the general public to access. In order to find the names of shareholders and their percentage of shares, the search motors of Istanbul Chamber of Commerce (İTO) and the Trade Registry Gazette have to be used simultaneously, for İTO summarizes the contents of each record while the Trade Registry Gazette doesn’t. However, İTO database only lists companies established in Istanbul, which makes searches of companies not based in Istanbul very challenging. So for instance, in order to find a record on shares of a company that is not based in Istanbul, one would have to go through all the PDFs of the records for that company, one by one, which may result in up to 50 or more documents to be reviewed before the right information is located.