Turkey Seizes 3 TV Channels in Fraud Probe

By Staff, Agencies

Prosecutors in Turkey have launched a sweeping fraud investigation into Can Holding, a major conglomerate that owns several high-profile assets, including three major Turkish television channels.

Authorities announced on Thursday that they had seized control of the company and issued arrest warrants for 10 of its executives.

The Istanbul district prosecutor’s office in Kucukcekmece stated that evidence had been found suggesting that an organization was formed within Can Holding with the intent to commit crimes, including fraud, tax evasion, and money laundering.

Can Holding, which has expanded into multiple sectors such as energy and education, made headlines last year when it acquired several major broadcasters, including Haberturk, Show TV, and Bloomberg HT, the Turkish affiliate of Bloomberg News.

Following the investigation, the assets of all 121 companies operating under Can Holding were placed under the management of the Savings Deposit Insurance Fund of Turkey, effectively transferring control of the business to a third party.

The operation has raised concerns among press freedom advocates about yet another potential media crackdown in Turkey.

RSF’s Erol Onderoglu warned that while the probe into Can Holding may be justified, it risks tightening media control and silencing diverse voices.

Turkey has faced growing criticism in recent years for increased control over media outlets and pressure on journalists.

The latest seizure adds to mounting fears of declining media independence under the guise of legal or financial investigations.

A new Stockholm-based International Institute for Democracy and Electoral Assistance [IDEA] report finds democratic freedoms declined in 94 countries over five years, with only one-third showing improvement.

IDEA chief Kevin Casas-Zamora warned of a global democratic crisis, urging reforms to ensure fairness, inclusion, and strong institutions amid rising autocracy and instability.

The findings by the group are based on the Global State of Democracy Report for 2025, published every five years and regarded as the most comprehensive survey of its kind. The study covers 174 countries and tracks democratic performance dating back to 1975.