About Civil.ge
Eng | Geo | Rus
Last updated: 21:52 - 2 Dec.'16
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
02 Dec.'16 21:52
EU, Georgia Hold Third Association Council Meeting
EU foreign policy chief Federica Mogherini said “enormous progress” discussed at the meeting.
02 Dec.'16 20:06
Tusk: Georgia Deserves Timely and Positive Finalization of Visa Liberalisation
PM Kvirikashvili met the European Council President during his visit to Brussels.
02 Dec.'16 17:50
Putin Meets Abkhaz Leader in Moscow
The Russian President warned Khajimba over the need of internal political stability in Abkhazia.
02 Dec.'16 17:11
Geostat: Annual Inflation 0.2% in November
On a monthly basis prices were up 0.6% in November, according to the state statistics office.
01 Dec.'16 23:53
Three Board Members of NBG Approved
All three candidates were nominated to Parliament by President Giorgi Margvelashvili.
01 Dec.'16 17:23
Amid Disagreement on New Chairperson, UNM Plans Congress in January
7 000 delegates will participate in the congress planned for January 20.
01 Dec.'16 14:16
Three Writing Systems of Georgian Alphabet on UNESCO Intangible Heritage List
This is Georgia’s third nomination inscribed on the list following UNESCO’s November 30 decision.
30 Nov.'16 21:15
Georgian PM Meets President of European Parliament in Brussels
Martin Schulz said that visa liberalisation was discussed “very intensively” at the meeting.
30 Nov.'16 16:10
Parliament Revokes MP Credentials for Four Lawmakers
MP credentials of PM Kvirikashvili, ministers Kakha Kaladze and Giorgi Gakharia, ex-first lady Sandra Roelofs were revoked.
30 Nov.'16 13:36
Geostat: GDP Growth 1.3% in October
Economy grew 2.5% in the first ten months of this year, according to preliminary data.

About Civil Georgia
Civil.Ge © 2001-2016, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
41