Khalvashi puts up "Rustavi-2" for sale

On August 12, Kibar Khalvashi announced his intention to sell the "Rustavi-2" TV Company, explaining his decision by the company's debts in the amount of 70 million laris (almost USD 24 million) and the absence of his financial ability to maintain it. Mr Khalvashi intends to hold an auction and sell the TV company to the one who offers the highest price.

The "Caucasian Knot" has reported that on July 18, the European Court of Human Rights (ECtHR) declared the decision of the Supreme Court (SC) of Georgia, adopted in 2015, to transfer the assets of the "Rustavi-2" TV Company channel to the former owner Kibar Khalvashi as legitimate. On the same day, Nika Gvaramiya, director general of the company, was fired, and Khalvashi's lawyer Paata Saliya was appointed in his place.

"Unfortunately, my financial resources are not enough to take the company out of the deep crisis; therefore, I want to openly declare that I am ready to negotiate with any interested persons, those who will buy the 'Rustavi-2' and help it to get out of the financial crisis and become successful … In order to avoid political or other manipulations, I will negotiate only with those who have serious intentions and, as a guarantee of these intentions, will transfer at least one million US dollars to a bank account or a special contest account," the Georgian Public Broadcaster quotes Mr Khalvashi as saying.

Besides, according to his story, Kibar Khalvashi intends to go to court demanding compensation for the financial damage caused to the TV company by its former director general, Nika Gvaramiya.

This article was originally published on the Russian page of 24/7 Internet agency ‘Caucasian Knot’ on August 13, 2019 at 06:29 am MSK. To access the full text of the article, click here.