Rebecca Hawkes | 24-09-2013
Expansion and restructuring plans are afoot for the Saudi media giant Rotana Group as part of its 2013 strategy, its board has announced.
Details of the plans have not been revealed by the Middle East conglomerate, majority-owned and chaired by billionaire Prince Alwaleed Bin Talal and 19% owned by 21st Century Fox. However, the group is set to move its regional headquarters to Bahrain in the first quarter of 2014, according to the Gulf island’s Minister of State for Information Affairs, Sameera Rajab.
Among its diversified media assets, Rotana owns a bouquet of free-to-air TV channels including LBC Group, Cinema, Khalijiyah, Masryiah, Clip and Musica, that broadcast Arabic films, series and music videos around the world. The company, chaired by Prince Alwaleed Bin Talal, is also the world’s largest producer of Arabic music and a key producer and distributor Arabic films, with a library comprising over 1,600 titles.
Chaired by Prince Alwaleed, the September meeting was attended by company directors Dr Walid Arab Hashem, vice chairman; Fahad Alsukait, CEO Rotana Group; and Nada Alsugair, board member and executive director, finance and administration, HRH’s private office. Board members Gary Davy and Charlotte Burr, head of strategy and development, Asia Pacific, 21 Century Fox; John Ireland, CFO Rotana Group; Turki Alshabanah, president of Rotana TV Channels; Nezar Nagro, president of Rotana Media Services; and James Ward, chief legal officer and general counsel were also present.
In addition to reviewing the 2013 strategic plans, the operating and financial budgets were discussed at the meeting and the achievements of the holding group were commended, the Saudi Gazette reports.