ID :
27102
Tue, 10/28/2008 - 18:46
Auther :
Shortlink :
http://m.oananews.org//node/27102
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SRMG IN CONTENT JOINT VENTURE WITH SAUDI TELECOM, MALAYSIA'S ASTRO
DUBAI, Oct 28 (Bernama) -- Saudi Research and Marketing Group (SRMG), purportedly the largest integrated publishing group in the Middle East, has established a content joint venture (CJV) with Saudi Telecom (STC) and Malaysia's Astro All Asia Networks Plc (Astro).
To be based in Dubai, the initiative creates the first content aggregator
in the Middle East and North Africa.
According to a statement by SRMG, the CJV will seek to acquire and manage
content produced by regional and international providers with a view to
delivering quality and diversified content to all STC customers in Saudi Arabia
and globally.
SRMG, the first Arab media company to go public -- it was listed on the
Saudi stock in 2006 -- owns 20 percent of the CJV while Astro has a 29 percent
equity and the main shareholder, STC, a 51 percent equity.
"After decades of success as the region's biggest 'paper' publisher,
this revolutionary step takes SRMG to new and additional horizons.
"It enables us to provide quality digital content to approximately 70
million people worldwide via a whole new platform," said SRMG chairman, Prince
Faisal Bin Salman Bin Abdulaziz.
The CJV announcement was made in Riyadh yesterday in the presence of Prince
Faisal bin Salman and Mohammed Al-Jaser, chairman of STC and Astro's independent
director, Datuk Mohamed Khadar Merican.
STC currently has 18 million mobile users and four million fixed line users
in Saudi Arabia.It has in addition, 45 million global users with its oversees
investments, who will all be benefiting exclusively as a result of the CJV which
will commence operations in early 2009.
Astro is the holding company for Measat Broadcast Network Systems Sdn Bhd,
the sole operator of direct-to-home satellite pay television services in
Malaysia and Airtime Management and Programming Sdn Bhd, a commercial radio
broadcaster in Malaysia.
Astro is also a leading cross-media operator with operations in Brunei,
Indonesia and India besides Malaysia.
-- BERNAMA
To be based in Dubai, the initiative creates the first content aggregator
in the Middle East and North Africa.
According to a statement by SRMG, the CJV will seek to acquire and manage
content produced by regional and international providers with a view to
delivering quality and diversified content to all STC customers in Saudi Arabia
and globally.
SRMG, the first Arab media company to go public -- it was listed on the
Saudi stock in 2006 -- owns 20 percent of the CJV while Astro has a 29 percent
equity and the main shareholder, STC, a 51 percent equity.
"After decades of success as the region's biggest 'paper' publisher,
this revolutionary step takes SRMG to new and additional horizons.
"It enables us to provide quality digital content to approximately 70
million people worldwide via a whole new platform," said SRMG chairman, Prince
Faisal Bin Salman Bin Abdulaziz.
The CJV announcement was made in Riyadh yesterday in the presence of Prince
Faisal bin Salman and Mohammed Al-Jaser, chairman of STC and Astro's independent
director, Datuk Mohamed Khadar Merican.
STC currently has 18 million mobile users and four million fixed line users
in Saudi Arabia.It has in addition, 45 million global users with its oversees
investments, who will all be benefiting exclusively as a result of the CJV which
will commence operations in early 2009.
Astro is the holding company for Measat Broadcast Network Systems Sdn Bhd,
the sole operator of direct-to-home satellite pay television services in
Malaysia and Airtime Management and Programming Sdn Bhd, a commercial radio
broadcaster in Malaysia.
Astro is also a leading cross-media operator with operations in Brunei,
Indonesia and India besides Malaysia.
-- BERNAMA
