A new TV company – Formula, which will be opened by Formula Creative, will start broadcasting in October. As Zuka Gumbaridze, the future director of the television, told AMBEBI.GE, they applied to the Georgian National Communications Commission (GNCC) today for getting broadcasting permission.

According to Gumbaridze, Formula will broadcasts throughout Georgia.

As for the source of funding, Gumbaridze explained that negotiations with investors were still ongoing. One of them is former Defense Minister Davit Kezerashvili.

"We are discussing final details with investors now and soon we will be able to talk openly. I can officially confirm that one of the investors we have talks with is Davit Kezerashvili," he said.