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On February 2, as a result of reallocation of shares of Maestro TV, Giorgi Gachechiladze (also known as Utsnobi) became the owner of the controlling stake (55%). He acquired shares from his partners - Giorgi Ebralidze and Levan Chikvaidze, 15% from each. The reallocation is proven by the records from the Georgian Public Registry. 

Maestro TV management was taken by surprise by these developments. It appears that there was a notarized pre-purchase agreement between the owners, based on which Giorgi Gachechiladze agreed to transfer his 25% stake to the remaining partners for a symbolic sum of GEL 400, no later than by December 10, 2012. The management of Maestro TV claims that Gachechiladze refused to meet the terms of the agreement and instead, he tried to increase his shares. Gachechiladze claims that he was able to increase his shares with the money borrowed from Irakli Rukhadze. The latter manages businesses owned by the family of the deceased tycoon, Badri Patarkatsishvili, including Imedi TV, a competitor of Maestro TV. 

As the new owner of the controlling stake, Gachechiladze called the partners’ meeting on February 4, 2016, to discuss among other matters, dismissal of current Maestro TV director Eter (Baya) Gadabadze and to appointment of a new director. He has however publicly denied that he was about to fire Maestro TV’s management or staff. According to media reports, on February 2, Gachechiladze met with Prime Minister Giorgi Kvirikashvili; however, these reports have been denied by Gachechiladze’s lawyer. Whether the meeting in fact took place and if it did, what was the subject of discussion, remains unknown. 

Owner of 25% stake of Maestro TV and lead investor Maka Asatiani, who is also de-facto manager of the channel, has distanced herself from Gia Gachechiladze’s intentions and has plans to take a legal action. 

The management of Maestro TV believe that these events are politically motivated, especially in light of an ongoing bankruptcy proceedings against Maestro TV and the company’s current debts of over tens of millions laris to its creditors. For these reasons the management believes that Gachechiladze has no financial interest in the company. Maestro TV owners are also disputing the right to ownership of the TV name and logo, as well as the pre-purchase agreement where Gachechiladze agreed to transfer his 25% of shares to remaining partners. 

Although the disputes and the court proceedings involving Maestro TV are private in nature, the fact that unexpected changes in the ownership of the third most watched TV channel in Georgia occurred a few months ahead of the upcoming parliamentary elections raise serious suspicions about political motivation. 

The case of Maestro intensifies suspicions raised by civil society that the government wants to establish control over media prior to the elections. In the summer of 2015 similar events occurred around Rustavi 2 TV Company, during a seemingly private dispute about ownership of the company shares.

To ensure free and pluralistic media environment in the country and in light of high public interest in the case, it is vital for the owners of the controlling stake not to make any hasty decisions and fire Maestro TV’s management or staff, not until the dispute is resolved in court. This would be a sign that their aim is to develop the company rather than hinder its operation or limit its editorial independence.

It is especially important for civil society, media and public in general to be kept informed about developments unfolding around Maestro TV, in order to rule out any attempts of exerting political influence on media and quiet any speculations around the topic. We urge the parties to the dispute to be willing to negotiate and ensure maximum transparency of the process. 

Transparency International Georgia

Media Development Foundation (MDF)

Civil Development Agency (Cida)

Media Club

International Society for Fair Elections and Democracy (ISFED)