Saudi Arabia’s PIF acquires 54 per cent of MBC Group in a $2bn deal, becoming majority shareholder in the Middle East’s leading media company
MBC Group
Latest in MBC Group
Diriyah
MBC to build new HQ in Diriyah, Saudi Arabia
MBC will develop a new headquarters with offices and studios in Diriyah, Saudi Arabia
MBC
Saudi Arabia’s PIF to acquire controlling $2bn stake in MBC
Saudi sovereign wealth fund PIF has acquired a controlling 54 per cent stake in MBC Group
broadcasting
MBC Group posts $63.4mn net profit in H1 2024, up 359%
MBC Group’s traditional broadcasting activities remained a critical part of its business success, with TV revenues growing 5.2% year-on-year to $200.4 million
IPO
Saudi Arabia’s MBC Group announces SAR 25 per share final IPO price
The book-building process drew considerable support from Saudi Arabia, regional and international investors, resulting in an order book of a whopping $14.5 billion (SAR 54.5 billion), 66 times over subscription
Adnoc Drilling IPO
MBC announces Saudi IPO plan to sell off 10 per cent of firm
Middle East broadcasting giant MBC to sell 10 per cent of company on Saudi stock exchange
broadcasting
Saudi’s MBC Group IPO plans underway as broadcaster works with HSBC, JPMorgan
The size of the IPO and valuation weren’t immediately clear and the timing is subject to change
MBC Group
Futuristic city NEOM becomes set for an upcoming Saudi fantasy show
MBC Studios, which is producing the show, said it has already started filming in NEOM, where three purpose-built sets were constructed for the show
Gaming industry
Neom, MBC Group unveil deal to attract global gaming talent to Saudi Arabia
New studio will relocate to Neom’s Media Hub in 2023 and produce top quality products for gamers
BeIN Sports
Armchair fan’s guide to watching sports in the Middle East
With OSN dumping all of its sports coverage earlier this year, which channel can you now find your favourite sports?
Abu Dhabi Grand Prix
Dubai’s MBC wins F1 broadcast deal for MENA region
Broadcaster will offer F1 racing free-to-air under the deal which gives MBC five-year exclusive rights
MBC Group
Dubai’s MBC plans digital focus as streaming competition hots up
Johannes Larcher joins MBC Group as managing director, Digital & VOD Websites to drive expansion
Fox Network
Consumer payment methods ‘biggest fear’ for online steaming services in MENA, says Fox
Low credit card penetration makes it difficult for streaming services to achieve profitability in the region, according to Fox MENA head Sanjay Raina
Fox Network
MBC’s Shahid Plus inks Fox deal as streaming competition hots up
Shahid Plus announces agreement with Fox Networks Group MENA to add Fox Plus streaming service to platform
cooking shows
Image Nation Abu Dhabi begins production of Saudi cooking show
Saudi Arabia’s government has pledged to invest $64 million in the kingdom’s entertainment sector in the next 10 years
Anti-corruption
MBC chief back in Dubai after Riyadh detention
Walid al-Ibrahim makes his first appearance at company headquarters since being detained in Saudi crackdown on corruption
