Prime Media Global acquires Imedi TV - founder Ilia Mikelaishvili announces deal, pledges continuity

Ilia Mikelaishvili, the founder of Prime Media Global, on Friday confirmed the successful conclusion of months-long negotiations with businessman Irakli Rukhadze, resulting in Prime Media Global’s acquisition of Imedi TV and the entire media holding.

“As is well known to the public, Prime Media Global has been operating on the Georgian media market for years and, in this regard, is one of the fastest-growing companies in the country. I am pleased to announce that after months of negotiations, an agreement has been successfully reached with businessman Irakli Rukhadze, resulting in the transfer of ownership of Imedi TV and other media outlets under its holding to Prime Media Global.”, he said.

Mikelaishvili emphasised substantial future investments to strengthen the TV channel while committing to preserve its existing editorial policy and protect the rights of all employees, aiming to maintain and enhance Imedi TV’s position as Georgia’s leading broadcaster.

“We have ambitious plans for both Imedi TV and the entire holding. We intend to make a significant investment to further strengthen the channel and enhance its development”, he continued.

“At the same time, I declare with full responsibility that the TV channel's existing editorial policy will be fully protected, as will the rights of every employee working in the holding. We fully understand the responsibility that comes with the fact that Imedi is the undisputed leader in Georgia’s media landscape, and our goal is to preserve this achievement and improve it even further. This is all I can share at this stage. More details regarding our future plans will be announced at a later time”, Mikelaishvili concluded.

Georgian businessman Irakli Rukhadze has announced that he and his business partners have made the decision to part ways with Imedi TV, calling it one of the most difficult and emotional decisions of his life.