**Davit Kezerashvili No Longer Owns Formula TV Shares**
Former sponsor Davit Kezerashvili is no longer the owner of shares in opposition-leaning channel Formula TV. He has officially transferred his remaining 26% stake to the channel’s co-founders.
According to the latest information, Mikheil Mshvildadze and Zurab Gumbaridze now own a combined total of 70.5%. They have taken over the shares from Kezerashvili, who previously owned 51%.
**Background on Formula TV**
Formula TV was established in July 2019 as an opposition channel after changes were made to another channel, Rustavi 2. The new ownership and management team prompted some staff members to leave and join other opposition channels.
**Key Shareholders**
The current share distribution is:
* Mikheil Mshvildadze: 38.25%
* Zurab Gumbaridze: 32.25%
* Freedom Formula: 25%
* Irakli Saghinadze: 2.25%
* Giorgi Liponava: 2.25%
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