BMG presents information about the owners of television stations in Georgia.
Imedi TV
Imedi TV is fully owned by Georgian Media Production Group LLC, a company registered in Georgia in 2008. The ultimate owner is Media Finance Group, registered in the Netherlands in 2021, controlled by businessman Irakli Rukhadze.
The channel was previously owned by the family of the late businessman Badri Patarkatsishvili, but was transferred to Rukhadze’s holding in 2021. Mariam Lomidze serves as the General Director, while Rukhadze chairs the Supervisory Board.
- 2023 Revenue: 32.2 million GEL (↓33%)
- 2023 Loss: 53.3 million GEL
- Accumulated Losses: 388 million GEL
- Tax Debt (2025): 17 million GEL
Imedi has reported continuous financial losses and relies on funding from companies affiliated with its owners.
Rustavi 2
Rustavi 2 operates under the license held by Media Holding JSC, which was founded in 2021 by Rustavi 2 (10%) and Prime Time (90%). Prime Time is equally owned by Tamar Pkhakadze and Giorgi Kutateladze, the latter linked to Georgian Manganese, a company under state management since 2017.
Former Rustavi 2 director Paata Salia currently serves as Georgia’s Minister of Justice.
- 2023 Revenue: 14.3 million GEL (↑40%)
- 2023 Loss: 31 million GEL
- Accumulated Losses: 72.2 million GEL
- Tax Debt (2025): 25 million GEL
Like Imedi, Rustavi 2 is financially dependent on its affiliated business structures.
Public Broadcaster
The Georgian Public Broadcaster is entirely state-owned and funded from the national budget. Despite modest ratings, it is the highest-earning television outlet in the country.
- 2024 Income: 87 million GEL
- TVMR Ratings (June 2025): 4.2%
- General Director: Tinatin Berdzenishvili
While its audience is smaller compared to commercial rivals, its financial position is secure due to government support.
TV Pirveli
TV Pirveli was founded in 2014 by Vato Tsereteli, who remains its sole owner and General Director.
- 2023 Revenue: 5.6 million GEL (↓12%)
- 2023 Loss: 3.86 million GEL
- Accumulated Losses: 12.5 million GEL
Despite a reputation for editorial independence, the channel struggles financially.
Formula TV
Founded in 2019, Formula TV was initially owned by former Defense Minister David Kezerashvili. In March 2025, ownership shifted to four individuals:
- Misha Mshvildadze (Director): 38%
- Zurab Gumberidze: 32%
- Giorgi Liponava: 2%
- Irakli Saghinadze: 2%
- 2023 Revenue: 4.8 million GEL (↓10%)
- 2023 Loss: 42.1 million GEL (↑98%)
- Accumulated Losses: 125.6 million GEL
Formula’s operations are sustained by affiliated businesses tied to its founders.
Postv
Founded in 2017, Postv is partially owned by ruling party MP Viktor Japaridze (52%), with the remaining shares split between Shalva Ramishvili (24%) and Temur Charelashvili (24%). Charelashvili serves as Director.
- 2023 Revenue: 7.5 million GEL (↑48%)
- 2023 Loss: 6.8 million GEL
- Accumulated Losses: 6.8 million GEL
Postv has grown its revenue but remains unprofitable.
GDS
GDS, founded in 2012, was originally owned by Bera Ivanishvili, son of former Prime Minister Bidzina Ivanishvili. Since 2021, ownership has transferred to Georgian Media Production Group, linking it to Irakli Rukhadze.
2023 Revenue: 3.4 million GEL
Focuses on entertainment programming only, with no news division.
Maestro
Maestro TV is owned by:
- Giorgi Gachechiladze: 55%
- Media Finance Group BV (Rukhadze): 25%
- Mamuka Ghlonti: 15%
- Eka Akobia: 5%
- Director: Zurab Nakeuri
- 2023 Revenue: 376,000 GEL
- 2023 Loss: 4.3 million GEL
- Accumulated Losses: 82 million GEL
Despite low revenues, Maestro has operated continuously, largely supported by investor funding.
