TELE 1's sale auction halted

The Savings Deposit Insurance Fund (TMSF) has suspended the auction for the Turkish television channel TELE 1, which it had put up for sale following the arrest of its editor-in-chief, Merdan Yanardağ, on espionage charges. The channel's sale was scheduled to proceed via open bidding, with a reserve price of 28 million lira and a final offer deadline of June 16.

However, the auction faced legal challenges when a group of employees filed a lawsuit with the Istanbul 11th Administrative Court. Their primary concern was the lack of provisions in the TMSF's sale notice and terms to address outstanding labor claims. This omission prompted the legal action to halt the sale until their rights were secured.

In response to the lawsuit, the TMSF has halted the tender, citing Article 28 of the sales regulation, which pertains to the postponement or cancellation of sales. Murat Taylan, the main news anchor for TELE 1, confirmed the halt on social media, noting that the TMSF could now decide to open a new tender or proceed with the liquidation of the company. The situation leaves the future of the television channel uncertain.