**Opposition TV Channel’s Ownership Changes**
Davit Kezerashvili, co-owner of the opposition TV channel Formula, is transferring 26% of its shares to Zurab Gumbaridze, the channel’s general director. This transfer will give Gumbaridze a total ownership stake of 38.25%.
**New Shareholders**
The TV company’s new shareholders will be distributed as follows:
* Zurab Gumbaridze: 38.25%
* “Freedom Formula”: 25%
* Mikheil Mshvildadze, Irakli Saghinadze, and Giorgi Liponava: each with 12.25%
**Struggles and Layoffs**
Formula TV has been struggling to stay afloat. Last year, it stopped showing entertainment programs and focused on news and analysis only. The channel also had to lay off some staff.
**Background**
The opposition TV channel was founded by the “Formula Creative” team after the transfer of ownership at Rustavi 2. Part of the staff from Rustavi 2 joined Formula TV and Mtavari TV.
