MBC Group
MBC Group (Arabic: مجموعة إم بي سي), formerly known as Middle East Broadcasting Center (Arabic: مركز تلفزيون الشرق الأوسط), is a Saudi state-owned media conglomerate based in the Middle East and North Africa region. Launched in London in 1991, the company moved to its headquarters to Dubai in 2002 then moved to Riyadh in 2022.
Native name | مجموعة إم بي سي |
|---|---|
| Formerly | Middle East Broadcasting Center (1991-2003) |
| Company type | Private |
| Founded | 18 September 1991 |
| Headquarters | Riyadh, Saudi Arabia |
Area served | Middle East and North Africa |
Key people | Waleed bin Ibrahim Al Ibrahim (Chairman) Sam Barnett (CEO) |
| Owner |
|
| Website | www |
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. Sam Barnett returned as MBC Group CEO in December 2020 after a one-year departure. 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. As of 2011 MBC reported 165 million viewers.
The group is currently 60% owned by the government of Saudi Arabia, with the rest belonging to its founder Waleed bin Ibrahim Al Ibrahim. 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.