About Civil.ge
Eng | Geo | Rus
Last updated: 20:24 - 20 Jan.'17
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
20 Jan.'17 20:24
UNM Elects New Leaders at Party Congress
The party chairman’s post remains vacant; Nika Melia was elected the head of the political council.
20 Jan.'17 19:57
Kvirikashvili: ‘Nothing To Celebrate in Transit Agreement with Gazprom’
PM Kvirikashvili said that Georgia defended its interests and “achieved the best result possible.”
20 Jan.'17 17:12
Georgian Ambassador to U.S. to Attend Trump’s Inauguration
Ambassador Davit Bakradze will attend all official inauguration events.
20 Jan.'17 16:33
Venice Commission President Visits Georgia
Buquicchio held meetings on the ongoing constitutional reform process.
20 Jan.'17 15:24
Energy Minister Responds to Gazprom Outcry
Kakha Kaladze stressed that the government took “rational and correct steps” in Gazprom negotiations.
20 Jan.'17 14:46
Georgian PM Meets Ukrainian President in Davos
Giorgi Kvirikashvili also held talks with his Croatian and Serbian counterparts.
19 Jan.'17 16:06
NATO Military Committee Holds Session on Georgia
Georgia’s Chief of Staff Vladimer Chachibaia attended the session of the Military Committee.
19 Jan.'17 14:16
Spanish PM Expresses “Growing Interest” in Georgia at Talks with Kvirikashvili
During his visit to Madrid the Georgian Prime Minister also met King Felipe VI.
18 Jan.'17 17:27
Former Parliamentary Speaker Outlines Political Plans
Davit Usupashvili speaks on achieving “serious success” in the next parliamentary elections.
18 Jan.'17 15:56
Tskhinvali Sets Date for Presidential Polls
Georgia’s breakaway region of South Ossetia will hold presidential elections on April 9.

About Civil Georgia
Civil.Ge © 2001-2017, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
56