Mikael Minasian's Panarmenian Media Group Ceases Operations: Statement

The Panarmenian Media Group has announced the cessation of its activities as a media entity. This was stated in a press release distributed by the company.

Several changes have occurred among the shareholders of the companies collaborating with the Panarmenian Media Group. Notably, businessman and television manager David Avetisyan, who heads the Panarmenian TV broadcast in the USA, has become the owner of 51 percent of the shares of the ATV, while the rights to 49 percent of the shares have been transferred to the American company Panarm Inc.

Changes have also taken place in the shareholder composition of Armnews TV, Lav Radio, and the news website Tert.am. Armnews, Lav Radio (Radio 107fm), and Tert.am have been transferred to Karyak Media.

Furthermore, 100 percent of the shares of Armenia TV and Radio Jan (Radiopro) are now owned by the family of the well-known media producer Arthur Janibekyan, the founder of the Russian Comedy Club Production.

In light of the wishes of the shareholders of the participating companies, a decision has been made to discontinue the operations of the Panarmenian Media Group as a media entity and to dissolve all management agreements signed with the media companies it collaborated with.

It is worth noting that media outlets have repeatedly reported and have not denied that Mikael Minasian, former Armenian ambassador to the Vatican and son-in-law of Serzh Sargsyan, owned the Panarmenian Media Group.