Azerbaijan, Baku / Trend corr. S.Ilhamgizi / Pal Media which is part of the group of companies Palmali, owned by the Azerbaijani businessman, Mubariz Mansimov, purchased another radio station in Turkey.
The company purchased the private Turkish radio station Istanbul FM in compliance with an agreement signed on 1 November.
The purchase of the popular radio station Istanbul FM in Turkey by Pal Media approves the aims of the company, Ibrahim Nabioglu, the Director General of the company, said.
Pal Media is planning to open a news website after opening a second radio station by the end of November.
Palmali invested $20mln in the Turkish media in 2007. Pal Media is planning to launch a channel in 2008.
In August 2007 Pal Media launched the Pal FM radio station in Turkey. The radio broadcasts both Azerbaijani and Turkish music.
It is the first radio station to be founded by an Azerbaijani citizen.