Waleed bin Ibrahim Al Ibrahim (Chairman) Sam Barnett (CEO)
Owner
Istedamah Holding Company (60%)
Waleed bin Ibrahim Al Ibrahim (40%)[1]
Website
www.mbc.net
MBC Group (Arabic: مجموعة إم بي سي, romanized: Majmūʿat ʾIm Bī Sī), formerly known as Middle East Broadcasting Center (مركز تلفزيون الشرق الأوسط, Markaz Tilifizyūn al-Sharq al-ʾAwsaṭ), is a Saudi media conglomerate based in the Middle East and North Africa region. Launched in London in 1991, the company moved its headquarters to Dubai in 2002 then moved to Riyadh in 2022.[2]
MBC Group operates over 19 free-to-air satellite TV channels, and a video on demand service (Shahid). MBC 1 was the first broadcaster to provide a satellite-based free-to-air 24-hour television broadcasting network across the Arab world. The Group's current chairman is Sam Barnett.[3] Sam Barnett returned as MBC Group CEO in December 2020 after a one-year departure.[4] MBC's television arm broadcasts via Eutelsat, Arabsat and Nilesat satellites. MBC has more than 2,000 staff.
In recent years MBC has been hit with major rounds of financial cuts, leading to 150 layoffs and major production cuts. These cuts were driven in part due to advertising not covering production costs and the failure to acquire exclusive rights to the Saudi league.[5] As of 2011 MBC reported 165 million viewers.[6]
The group is currently 60% owned by Istedamah Holding Company, with the rest belonging to its founder Waleed bin Ibrahim Al Ibrahim.[7] In 2023, MBC Group announced its Initial Public Offering (IPO). The offering consisted of a primary offering of 33,250,000 new ordinary shares, representing 10% of the company's share capital post-listing. This move marked a significant step in the company's financial strategy and opened up new avenues for investment and growth.[8]
^"MBC Group Prospectus" (PDF). cma.gov.sa. Capital Market Authority. 14 December 2023. Retrieved 17 April 2024.
^Vivarelli, Nick (20 September 2022). "MBC Group Opens New Headquarters in Riyadh That Will Boost Saudi Film and TV Industries". Variety. Retrieved 20 September 2022.
^"Chairman message - mbc.net - English". www.mbc.net. Archived from the original on 27 January 2020. Retrieved 25 April 2021.
^"Sam Barnett returns to MBC as group CEO".
^"MBC Group (Middle East Broadcasting Center)". egypt.mom-rsf.org. Retrieved 15 March 2020.
^"Middle East Broadcasting Center (MBC): A Case of the Content Management Blues". The Tilt. 16 September 2011. Retrieved 15 March 2020.
^Vivarelli, Nick (4 November 2022). "Top Middle East Broadcaster MBC Group Eyeing Flotation on Saudi Stock Market: Report". Variety. Retrieved 4 November 2023.
^"MBC Shares Offering" (PDF). mbc.net. 21 November 2023. Retrieved 23 November 2023.
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