Media group that owns TV channels Imedi, GDS and Radio Imedi for sale
On January 11 local TV channel Formula announced that the new management of the TV channel Imedi will be staffed by the team of the owner of the television Irakli Rukhadze. Photo: TV channel Imedi/Facebook.
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Georgian Media Production Group, which holds local TV channels Imedi, GDS and Radio Imedi is for sale.
The Communications Commission of Georgia has already discussed the issue at today's meeting and gave its consent on the acquisition of 100% of the shares of Georgian Media Production Group.
On January 11 local TV channel Formula announced that the new management of the TV channel Imedi will be staffed by the team of the owner of the television Irakli Rukhadze.
The Georgian Media Production Group is owned by Ina Gudavadze, the widow of oligarch Badri Patarkatsishvili who founded TV channel Imedi in 2003. The family regained control over Imedi TV – which it had lost in late 2007 – when the owners, who had close links to the outgoing United National Movement government, returned the station a few days after the 2012 parliamentary elections that had brought the Georgian Dream coalition to power.
According to the latest data, the value of the channel’s assets is 24.6 million GEL.
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Hunnewell Partners, an asset management and recovery firm, will purchase the local TV channel Imedi after the Communications Commission of Georgia gave its consent on the acquisition of 100% of the shares of Georgian Media Production Group, which holds local TV channels Imedi, GDS and Radio Imedi.
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