Azerbaijan, Baku / Trend / Pal Media which is part of a group of companies of Palmali, owned by the Azerbaijani businessman, Mubariz Mansimov, is to expanded.
The company signed an agreement to purchase new radio stations on 1 November 2007.
According to the General Director of Pal Media, Ibrahim Nabioglu, purchasing of the Turkish radio station has been operating since 1993 demonstrates the aimed policy of the company.
The step caused serious response in Turkey, as Istanbul FM is broadcasting its show programs throughout the country with leading media-structures. It is the second radio station of Pal Media. It is the first radio station in Turkey established by Azerbaijan.
Pal Media is planning to open the new news portal and TV channel in 2008.
Palmali mainly specializes in the transportation of oil products (petrol, gasoline, vacuum gasoline, stove fuel, and kerosene), crude oil, food, and industrial lubricants. Furthermore, the company has its own dry cargo fleet, which is used in the transportation of all types of dry cargo.