100% of the shares of Georgian Media Production Group, which owns TV Imedi, GDS TV and Radio Imedi is for sale, - the Communications Commission of Georgia reports. The Commission approved the transaction and explained that the new holder of the holding is Netherland-based company Media finance Group B.V.
“On January 20, 2021, Georgian Media Production Group Ltd. applied to the Communications Commission with a statement that they wanted to change the partner. Namely, Media Finance Group BV wanted to purchase 100% of shares of Georgian Media Production Group LLC (Cadastral/Code 204563123) and they applied to the Communications Comsmission for prior consent to the transaction as required by law.
The Commission examined and determined that the change of ownership of Georgian Media Production Group Ltd would not affect the market share and other economic indicators. So, the Commission considered the acquisition of 100% of the share of Georgian Media Production Group LLC by Media Finance Group B.V. compatible with the competitive environment on the electronic communications market and gave prior consent to the transaction.
In case of acquisition of 100% of the share of Georgian Media Production Group by Media Finance Group B.V., Georgian Media Production Group is obliged to inform the Commission about this within 7 working days after the relevant change is made. Currently, Ina Gudavadze still owns the shares, "the company explains.
In April 2018, it became known that an agreement was reached between Ina Gudavadze and businessman Irakli Rukhadze to sell the shares of Imedi TV, but the legal owner of the holding was still Ina Gudavadze.
Irakli Rukhadze confirmed BM.GE that he is becoming the official owner of the channel.
"I and my partners are buying it. More precisely, we bought it two years ago. Simply, the re-registration was delayed for structural reasons. Today, we received formal consent from the Communications Regulatory Commission. We will close the deal in a few months and announce it. Ina Gudavadze still owns the TV company,” Rukhadze said.
In 2018, there was talk that the estimated cost of the channel was $ 30 million.
has already discussed the issue at the meeting and gave a consent on the acquisition of 100% of the shares of Georgian Media Production Group. However, the Commission did not specify who plans to acquire this company.
As of 2019, the company’s assets were 24.6 million GEL. According to the financial report, the company’s revenue in 2019 (excluding subsidiaries ’revenues) was 1.8 million GEL, while the net profit amounted to 1.4 million GEL.
