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Mystery deepens as Patarkatsishvili family vows to fight on for return of "stolen" TV station

The mystery about who really owns Imedi, the broadcaster now being managed by Mikheil Saakashvili's close friend and former minister Giorgi Arveladze, has deepened with an on-the-record denial - in direct contradiction of the station management's own statements - by Khater Massaad, the chief executive of the Ras al-Khaimah Investment Authority (RAKIA) that it or any of its subsidaries had aquired a controlling stake in the station in 2009.

Speaking to the Abu Dubai based English-langauge newspaper "The National" Massaad stated "We have nothing to do with that. Why should I buy a TV station in Georgia? It is a small country. What would  need with a TV-station there?"

But when the station was sold - by controversial businessman Joseph Kay (pictured, left), whose claim to own in the first place has always been contested by the family of the station's founder, the late Badri Patarkatsishvili - in February 2009 the station's management announced it had been sold to a subsidiary of RAKIA called "Rak Georgia Holdings".

At the press conference held to announce the sale a "Mark Monem" (მარკ მონემი - pictured, right) was introduced as Rakia's representative and, according to Rustavi 2 said "The Rak Georgia Holding is the largest investor in Georgia that has already implemented several very important projects. Our group keeps on investing. Our one of the most important segments is media market. We are sure that in case of investing, the Imedi will be reinforced."

The TV station, generally speaking little better than a propaganda channel for the Saakashvili government, itself editorialised "The Rak Georgia has already bought the large part of shares of the Poti Port, the Mtatsminda Park and the Standard Bank. Representatives of the company said, some changes have been planned in management regarding the activities of the holding. The holding will comprise the Imedi TV, the Radio Imedi and the Technomedia."

Reuters reported "Mark Monem" as telling the press conference (in English): "We are going to transform the media assets into a strong financial organisation with balanced and objective editorial policy."

The denial of RAK involvement lacks credibility for reasons other than a failure to deny their involvement in February last year.

Today Massaad claims: "There is somebody in Georgia who has created his own company with the name RAK georgia Holding. This company exists indeed. But we have nothing to do with it. The problem is that I have not registered the name RAK as a brand."

The Nation reports, however, that the Zawya.com site lists RAK Georgia Holding as 100% owned by RAKIA and registered in Georgia.

On top of that, the internet is littered with senior RAKIA figures being interviewed as representatives of RAK Georgia Holding.

However the investment advice website Emerisk also describes RAK Georgia Holding as a joint venture between RAKIA's propertry arm Rakeen and "unspecified Georgian investors" - putting some distance between the RAK authorities and Imedi.

At the same time the family of the station's founder Badri Patarkatsishvili have vowed to continue to pursue their claim against Joseph Kay for what they see as the theft of Imedi. Yesterday the family announced a major legal victory over Kay and said that cases in other courts continue.

 The Nation's article may also indicate that RAKIA are backing off plans to invest in building the "biggest airport in the Caucasus" at Poti, on the very edge of a park protected by international treaty. The proposal has been described as "an environmental crime" and now RAKIA, previously announced by Mikheil Saakashvili as (through Rakeen) about to start work will only say they are "seriously considering" the project.

Do you recognise "Mark Monem"? Can you tell us more about who he represents? Contact us at web@georgiamediacentre.com