About Civil.ge
Eng | Geo | Rus
Last updated: 12:43 - 23 Apr.'14
 
RSS
Mobile
Twitter
Facebook
Patarkatsishvili Family Disputes Imedi Sale
Civil Georgia, Tbilisi / 26 Feb.'09 / 11:16

The family of late tycoon Badri Patarkatsishvili, a founder of Imedi media holding, said sale of the TV and radio station by Joseph Kay was illegal as the latter himself seized the hodling through illegal means.

A local unit of UAE’s Ras Al Khaimah (RAK) emirate’s investment fund, RAK Georgia Holding, has purchased 90% of Imedi, for undisclosed price. 10% of shares remain in Joseph Kay’s ownership, his legal representative said on February 25.

The Patarkatsishvili family said in a statement on February 25 that the deal “shows President Saakashvili is prepared to put Georgia’s media freedom up for sale… Saakashvili and his government took Imedi and now plan to transfer it to a subsidiary of an Arab emirate with no experience in free broadcasting.”

“This is how much the Georgian government cares for personal property and free speech,” it added.

Joseph Kay, a distant relative of Patarkatsishvili, claims that he became the television station’s owner after he had bought shares from Gogi Jaoshvili “simply by paying money” in February, 2008, after the death of Patarkatsishvili.

Imedi TV and radio were not directly owned by Petriashvili; instead shares were registered on his close friend Gogi Jaoshvili’s name. The latter was owner of 70% of JMG, a company with a 65% stake in I-Media, which has total ownership of Imedi TV and radio. Jaoshvili also was a chairman of I-Media’s board of supervisors.

Jaoshvili made his first public statement on the matter on December 10, 2008, at a press conference convened by the Patarkatsishvili family and attorneys representing the family’s interests. He said that he was forced to give up his shares into the media holding as a result of pressure exerted on him by the Georgian authorities.

In a statement on February 25, the Patarkatsishvili family also claimed that “actual ownership of RAK Georgia Holding is not clear.” It suggested that groups within the Georgian authorities could have been behind the local partners of the company.

This year RAK Georgia Holding’s daughter company has purchased controlling stakes into the People’s Bank. Former PM, Zurab Nogaideli, and a leader of newly set up opposition party Movement for Fair Georgia, has alleged that Interior Minister Vano Merabishvili’s associates were behind the company not RAK Georgia Holding – the allegation was denied by the Holding itself.

Latest News
23 Apr.'14 12:43
French, German FMs to Visit Tbilisi
The visit part of their joint trip, which also includes Moldova and Tunisia on April 23-25.
22 Apr.'14 23:49
Ex-Defense Minister Okruashvili Barred from Running for Gori Mayor
CEC said Okruashvili, who returned to Georgia less than 2 years ago, fails to meet residency requirement.
22 Apr.'14 22:52
Iranian President Meets Georgian Diplomat, Raises Rail Link with Georgia via Azerbaijan
The entire region will benefit from this railway link, President Rouhani said.
22 Apr.'14 19:57
Saakashvili Presidential Library Holds Soft Opening
Saakashvili said via video link he will return much sooner than Ivanishvili can imagine.
22 Apr.'14 14:31
Russia Releases Georgian Jailed for 'Spying'
So far Russia released three Georgian citizens, who were serving prison terms for spying.
21 Apr.'14 17:42
Security Chief Replaced in Breakaway S.Ossetia
Attoev, who led breakaway region’s KGB since November 2006, was sent into retirement.
20 Apr.'14 21:13
PM Reaffirms Support for Khudoni HPP Project
Benefits of the project will outweigh its negative impact, Garibashvili said.
19 Apr.'14 20:13
CEC: Number of Voters 3.49 Million
Central Election Commission released updated figure of number of voters in Georgia.
19 Apr.'14 02:34
Georgian, Russian Diplomats Hold Phone Conversation
Karasin spoke with Abashidze by phone a day after the two diplomats met in Prague.
18 Apr.'14 15:36
Georgia in European Parliament's Resolution on Ukraine
It said that Georgia, like any other European state, has a European perspective.

About Civil Georgia
Civil.Ge © 2001-2013, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
64