Public prosecution ordered the arrest on Saturday of Mohamed Ahdi Fadli, the former chairmain of national newspaper Akhbar Al-Youm, for 15 days pending investigation on charges of corruption.
Fadli is the first head of a major publication to be arrested for corruption since the Mubarak regime was toppled.
According to news reports, Fadli was referred to Tora prison, located near Cairo.
Fadli is accused of profiteering through selling vast swathes of land owned by the newspaper in 6 October City for LE350 per meter to the Palm Hills company when the market price was LE850 per meter.
A number of Akhbar Al-Youm journalists had filed lawsuits against Fadli, accusing him of dubious financial dealings before his retirement at the beginning of this year.
