Image: MBC Group
Saudi Arabia’s Public Investment Fund (PIF) has completed the acquisition of a 54 per cent stake in MBC Group Company, the leading media and content producer in the Middle East and North Africa, through a private transaction with Istedamah Holding Company.
Under the deal, PIF purchased 179.55 million shares for SAR7.469bn ($1.992bn), at SAR41.60 per share.
MBC Group reaches approximately 150 million viewers weekly across the globe, offering a range of content including entertainment, drama and sports.
MBC stake key to PIF’s focus on media sector
The acquisition underscores PIF’s continued focus on the media sector as part of its strategy to accelerate Saudi Arabia’s economic diversification.
The fund has emphasised that investments in local technology, content creation, and media infrastructure are intended to bolster the kingdom’s position as a regional hub for media while cultivating talent across the ecosystem.
PIF added that its media sector investments are designed to create broader economic value, including generating multiplier effects for other priority sectors such as tourism, technology, leisure, sports and real estate, while opening opportunities for private sector partnerships.
