MBC Group has announced that the Public Investment Fund (PIF) of Saudi Arabia has acquired a significant 54% stake in the company, making it a major shareholder.
The deal, valued at US$1.99 billion, involved PIF purchasing the entire 54% stake held by Istedamah Holding Company for US$11.09 per share. This acquisition was finalised through a private transaction between the two parties.
In light of this development, the MBC Group reiterated its commitment to creating and investing in high-quality Arabic content that resonates with regional culture and captivates audiences worldwide, particularly the global Arabic diaspora. A key aspect of the Group’s strategy is to enhance its production capabilities, particularly in cultivating local content within Saudi Arabia.
MBC is on a growth trajectory across its core verticals, which include Broadcasting and Commercial Activities, Shahid (its flagship video streaming platform), and Media & Entertainment Initiatives. While its established television channels provide a solid foundation, Shahid, recognised as the leading Arabic streaming service in the MENA region, is anticipated to drive future growth through investments to enhance user experience and engagement.
The Group is also exploring new avenues for growth in emerging entertainment sectors, such as music, gaming, and live events, aligning with its long-term vision.
MBC underscored its commitment to innovation and leadership in the media and entertainment industry. It focuses on sustainable growth and delivers continuous value to its audiences and shareholders.
