MBC Group

Not to be confused with MBC Media Group, MBC and NBC.

MBC Group CJSC
Native name
مجموعة إم بي سي
FormerlyMiddle East Broadcasting Center (1991-2003)
Company typePublic
Tadawul: 4072
Founded18 September 1991; 33 years ago (1991-09-18)
HeadquartersRiyadh, Saudi Arabia
Area served
Middle East and North Africa
Key people
Waleed bin Ibrahim Al Ibrahim (Chairman)
Sam Barnett (CEO)
Owner
Websitewww.mbc.net Edit this at Wikidata

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,[3] the company moved its headquarters to Dubai in 2002 and to Riyadh in 2022.[4] It is majority owned by the Saudi government-operated Public Investment Fund.[5][6][7]

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.[8] Barnett returned as MBC Group CEO in December 2020 after a one-year departure.[9] 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.[10] As of 2011 MBC reported 165 million viewers.[11]

In 2023, 60% of MBC group was owned by Istedamah Holding Company (a subsidiary of the Saudi government's Ministry of Finance[6]), with the rest belonging to its founder Waleed bin Ibrahim Al Ibrahim.[6][12] 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.[13] By October 2024, the stake owned by Istedamah had dropped to 54%,[7] and this stake was transferred to the Public Investment Fund in November 2024.[5]

  1. ^ "Saudi Arabia's PIF to acquire 54% stake in MBC Group". arabnews.com. Arab News. 3 November 2024. Retrieved 4 November 2024.
  2. ^ "MBC Group Prospectus" (PDF). cma.gov.sa. Capital Market Authority. 14 December 2023. Retrieved 17 April 2024.
  3. ^ Westcott, Kathryn (8 May 1998). "Campaign Report on Worldwide Advertising (IAA Special): The battle for the Arab satellite market". www.campaignlive.co.uk. Retrieved 9 November 2024.
  4. ^ 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.
  5. ^ a b "Saudi Arabia's PIF to acquire 54% stake in MBC Group". arabnews.com. Arab News. 3 November 2024. Retrieved 4 November 2024.
  6. ^ a b c Magid, Pesha (21 November 2023). "Media group MBC expects IPO in coming months, says CEO". Reuters. The company [MBC Group] is split between state-owned Al Istedamah Holding with a 60% stake and the MBC founder and chairman Waleed bin Ibrahim Al Ibrahim, who owns the other 40%. A senior government official previously confirmed that the Ministry of Finance owns Istedamah.
  7. ^ a b Carroll, Rosaleen (21 October 2024). "What's behind Algeria's suspension of Saudi-owned Al Arabiya?". www.al-monitor.com. Retrieved 22 October 2024. MBC, formerly known as the Middle East Broadcasting Center, is one of the largest broadcasting groups in the region. The media group, in which the Saudi government maintains a 54% stake, is based in Riyadh
  8. ^ "Chairman message - mbc.net - English". www.mbc.net. Archived from the original on 27 January 2020. Retrieved 25 April 2021.
  9. ^ "Sam Barnett returns to MBC as group CEO".
  10. ^ "MBC Group (Middle East Broadcasting Center)". egypt.mom-rsf.org. Retrieved 15 March 2020.
  11. ^ "Middle East Broadcasting Center (MBC): A Case of the Content Management Blues". The Tilt. 16 September 2011. Retrieved 15 March 2020.
  12. ^ Vivarelli, Nick (4 November 2022). "Top Middle East Broadcaster MBC Group Eyeing Flotation on Saudi Stock Market: Report". Variety. Retrieved 4 November 2023.
  13. ^ "MBC Shares Offering" (PDF). mbc.net. 21 November 2023. Retrieved 23 November 2023.