Offshore Firm Holds Rustavi 2 TV Majority Shares

Like its previous co-owner, the new majority shareholder of the Rustavi 2 TV is an offshore-based company, Degson Limited, according to the information provided by Georgian National Communications Commission (GNCC) to Civil.Ge.

Degson Limited, which holds 70% of the country’s major nationwide television station’s shares, is registered in British Virgin Islands. No other information is available about the company.

Rest of 30% of shares remain in ownership of Georgian Industrial Group (GIG), a conglomerate a conglomerate founded by lawmaker from the ruling party, Davit Bezhuashvili – a brother of Gela Bezhuashvili, chief of the Georgian intelligence service.

Irakli Chikovani, a former general director of the Rustavi 2 TV, who has become a member of GNCC last week, owned 30% of the television stations from November, 2008 to early May, 2009. An offshore mysterious firm GeoMedia Group, registered in Marshall Islands, owned 40% of shares with remaining 30% by GIG.

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