Saudi Arabia launches new TV channel

The upgraded Al-Ikhbariya satellite TV channel will be turned into an LLC with an English-language service
Saudi Arabia launches new TV channel
By Staff writer
Thu 28 Dec 2017 08:48 AM

Saudi satellite TV channel Al-Ikhbariya will be converted into a limited liability company (LLC) under the name “Ikhbariya Network Company, Saudi Minister of Culture and Information Dr. Auwad bin Saleh Al-Auwad said on Wednesday.

The company will be jointly owned by the Saudi Press Agency (SPA) and Radio and Television Corporation on a 50-50 basis, according to the SPA.

According to Dr. Al-Auwad, the decision to upgrade the Arabic-language news channel and launch an English-language new channel within the company will allow for improved event and news coverage to help Saudis keep abreast of local and international news.

He added that the decision is also in line with the ministry’s Saudi Vision 2030 initiatives, which include empowering Saudi institutions to keep pace with developments in the global media scene. The ultimate goal, he noted, is to transmit the kingdom’s message to the world.

Ikhbariya, the company in the pipeline, is set to be run by a seven-member board with an executive bureau, three of them representing the Ministry of Culture and Information, two independent members representing the private sector, and two members each from the Radio and Television Corporation and the SPA.

The nascent company is expected to function shortly as soon as required administrative procedures are completed.

For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.