Armenika Kiviryan is the founder and sole owner of News.am LLC, having co-founded the company on January 25, 2011, alongside Ashot Manukyan and "GMLC" LLC. While her co-founders initially transferred their shares to other individuals shortly after establishment, Kiviryan has maintained her involvement and became the company's sole participant on October 9, 2018.

Kiviryan's background in journalism includes studying at the Faculty of International Journalism at Hrachya Acharian University from 1992 to 1997. She gained professional experience working at the "Arminfo" news agency during the 2000s and has contributed publications to the magazine Russkaya Mysl (Русская мысль), according to the Union of Journalists of Armenia website. Her educational background in international journalism and experience with established news agencies provided the foundation for launching her own media venture.

Ashot Manukyan co-founded News.am LLC alongside Armenika Kiviryan and "GMLC" LLC in 2011, though he subsequently transferred his ownership stake. His career has spanned journalism, government service, and business leadership across multiple sectors.

Manukyan held senior government positions until the 2018 political transition in Armenia, most notably serving as Minister of Energy and Natural Resources. Earlier in his career, he served as head of staff for the Prime Minister's Office and held leadership roles in the Ministries of Finance and Economy. His journalism background includes working as a correspondent for Respublika Armenia newspaper during the 1990s.

His business interests have been primarily concentrated in the energy sector through companies that are now owned by Armenian billionaire Samvel Karapetyan and his family, who operate extensive business operations in Russia. Manukyan's ongoing connection to this business network includes through an associate who holds a 5% share in Investment Media Group (IMG) LLC. According to State Revenue Committee data, IMG engages in electricity production. While Manukyan founded the company, it is now largely controlled by the Karapetyan family interests.

GMLC LLC is not registered in Armenia and appears to be a foreign entity with limited traceable presence. The company appears only twice in the State Register of Legal Entities of Armenia: as a co-founder of News.am LLC and as a shareholder in Media Style LLC. In the Media Style case, GMLC became a shareholder in 2009 but transferred its ownership to another individual approximately eighteen months later.

The company's registered addresses differ between these two Armenian business registrations, raising questions about its operational base. In the News.am founding documents, the listed address appears as "Meadow House 116A. BLACK. H." which could not be identified or traced to any specific country or jurisdiction. For the Media Style registration, the address is listed as Virgin Islands, Tortola Road, suggesting a British Virgin Islands registration.

Despite searches in available foreign company registries, no additional information about GMLC LLC could be located, making it difficult to verify the company's actual ownership, business activities, or current operational status. This lack of transparency creates uncertainty about the identity and background of one of News.am's original co-founding entities.