David Kezerashvili sold a 26% stake in TV “Formula” to the channel’s Director General and owner of a 12.25% stake, Zurab Gumbaridze, for a symbolic price of GEL 1.

According to the “Mediachecker”, the purchase agreement between the parties was signed on February 6.

“In exchange for the purchase/acquisition of the share owned by the transferor of the share, the transferee has paid the transferor of the share a symbolic amount of GEL 1 in accordance with the procedure provided for in this agreement.

Zurab Gumbaridze applied to the National Agency of Public Registry on February 7 to register a change in the data of Formula TV. However, the registry suspended the registration process and requested the submission of additional documentation.

According to “Mediachecker”, after the registration of this change, the shares of Formula TV will be distributed as follows:

Mikheil Mshvildadze - 12.25%
Irakli Saghinadze - 12.25%
Zurab Gumbaridze - 38.25%
Giorgi Liponava - 12.25%
Freedom Formula - 25%

Formula TV was registered in the Public Registry on July 22, 2019.