News agency BMG has acquired online media outlet On.ge, with the ownership changes already reflected in the business register.
“Business Media Georgia” (BMG) has fully acquired the 14.25% and 5% stakes in On.ge previously owned by Formula Production LLC and Nino Tepnadze. In addition, BMG acquired Omedia Media LLC, which held an 80.75% stake in On.ge. As a result, BMG has become the full owner of the publication.
The On.ge brand will remain active in the media market.
“The addition of On.ge brand to the BMG media holding represents both a new responsibility and an important stage of growth and expansion. This strategic step will create new opportunities for our holding to further develop in the media market.
Our goal is to support the development of the On.ge platform in the right direction and strengthen its diverse content. We would like to emphasize that On.ge will maintain its existing focus and profile and will continue operating as an independent media outlet within the BMG holding,” said BMG Director Anna Lapiashvili.
“Since the founding of On.ge, our goal has been to create a reliable, free, and original online media platform. All of us, the founders, are proud of the impact the On.ge team has made on Georgia’s online media landscape over the past 10 years and of the values that have allowed us to preserve editorial and financial independence despite pressure on free media. Today, this story is entering a new and even more interesting phase.
The merger with BMG Holding marks a completely new and important stage in On.ge’s development. We are pleased to have found like-minded partners who will continue developing the publication within such a strong and professional media group as BMG. I am confident that this synergy will further strengthen On.ge while preserving the core values and unique style that have earned the brand the trust of its audience over the years,” said On.ge co-founder Nodar Davituri.
