Rustavi 2 owner decides not to sell TV channel after auction expiration
"Given a real buyer of Rustavi 2 has not appeared, I have decided not to let Rustavi 2 go bankrupt, and for this I will use all my resources and possibilities”, Khalvashi announced yesterday evening. Photo: Nino Alavidze/Agenda.ge.
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New Rustavi 2 owner Kibar Khalvashi has decided not to sell the TV station, and instead will try to bring the channel out of debt.
Given a real buyer of Rustavi 2 has not appeared, I have decided not to let Rustavi 2 go bankrupt, and for this I will use all my resources and possibilities”, Khalvashi announced yesterday evening.
Khalvashi said that the company will become commercially viable and profitable, and that it will not be burdened by political or other obligations, noting that:
My first duty is to liberate Rustavi 2 from [former Georgian president] Mikheil Saakashvili, return it to the service of the public and regain trust. Rustavi 2 should be critical and sharp, but at the same time maintain high professional and ethical standards”, Khalvashi said, adding that "Rustavi 2 will soon be financially and politically independent, with truly independent journalists.”
Rustavi 2 is currently facing serious financial issues, and is more than 70 million GEL (about $23.95 million/€21.58 million) in debt.
Khalvashi blames former Rustavi 2 director Nika Gvaramia for the channel’s financial situation, and claims the latter “artificially reduced the revenue of the company and maximised its operating costs.”
Kibar Khalvashi was made the full shareholder of Rustavi 2 back in mid-July after the European Court of Human Rights handed down a verdict related to the Rustavi 2 ownership dispute, which dates back to 2014.
One month later, Khalvashi announced that he was selling the channel, and announced that interested buyers had one week to place bids for the channel.
Georgian Finance Minister Ivane Matchavariani has called on leading Georgian TV companies with high tax debt to present plans to restructure their accumulated debt within about two weeks.
Discussion of Georgian TV channel Rustavi 2 continues after its new owner Kibar Khalvashi announced the sale of TV company.
The new owner of Rustavi 2 Kiber Khalvashi, who was given 100 per cent of the company’s shares on July 18, is selling the broadcasting company, reports Rustavi 2.
Bail has been set at 40,000 GEL for former director general of opposition-minded TV channel Rustavi 2, Nika Gvaramia, who stands accused of abuse of power during his time in the position. Gvaramia also has been banned from leaving the country without the consent of prosecutors, who earlier had demanded bail be set at 80,000 GEL.
Georgian TV channel Rustavi 2 did not broadcast a newscast today during its 12:00 programme, and instead ran a film. Radio Liberty reports that Rustavi 2 journalists did not agree to host the newscast after the channel Director General Paata Salia unexpectedly dismissed head of information service Nodar Meladze, producer Giorgi Laperashvili and TV anchors Eka Kvesitadze, Giorgi Gabunia and Nanuka Zhorzholiani on August 20.
The potential new Rustavi 2 CEO, Irakli Imnaishvili, says he wants to conclude contracts with TV channel employees to ensure editorial independence. This would be a first in Georgia’s media history – we would like to create a precedent of a well-planned editorial contract,” he said. Irakli Imnaishvili said 800 employees remain at Rustavi 2.
Tbilisi City Court has allowed the seizure of real estate of Rustavi 2 TV channel, according to the demand of the founders of the channel David Dvali and Jarji Akimidze. Back in 2019 the same court ruled that 60 per cent of shares of the TV channel be frozen after the founders filed a lawsuit against current owner Kibal Khalvashi. Khalvashi, who stated his shares were illegally confiscated under the United National Movement leadership back in 2006, won the ownership dispute in the European Court of Human Rights in July 2019.