By AB Staff
Prince Alwaleed approved revamp will see the creation of 4 separate business units.
Rotana Holding’s chairman, Prince Alwaleed bin Talal bin Abdulaziz Alsaud, has approved a decision to restructure the group’s management into four separate business units, the media and entertainment conglomerate announced on Wednesday.
The group’s chairman and board of directors have approved a decision to restructure its business activities into four units: TV broadcasting, audio, studios and Rotanta Media Services (RMS).
The digital media business and emerging business for each sector will be handled separately within by each unit.
The changes are effective immediately and the presidents of each unit will report directly to Fahad Alsukait, Rotana Holding’s group CEO.
Other changes include Firas Khashman, currently the general manager of emerging businesses being appointed vice president audio sector and the expansion of Salem Al Hindi’s role as president of the audio sector.
HRH Prince Alwaleed bin Talal bin Abdulaziz Alsaud, chairman of Rotana Holding said: “The expansion of Salem Al Hindi’s responsibilities reflects our firm confidence in his leadership.”
Rotana Holding has built up a strong media portfolio since it was launched in 2003. The group owns the largest Arabic film library and Arabic music archive.
It distributes, produces, and manages many of the most popular Arab artists in the region and owns a bouquet of leading channels and employs over 1,300 employees located across the Middle East.
It recently won the third FM radio license in Saudi Arabia and earlier this year reached an announcement for Rupert Murdoch’s Newscorp to buy a 9.09 percent stake in it for $70m.