PIF has acquired a 54% stake in MBC Group for SAR 7.469 billion, aiming to enhance Saudi Arabia's media and entertainment sectors.

Overview of the Target

The Public Investment Fund (PIF) has successfully acquired a 54% stake in MBC Group, finalizing the purchase of 179.55 million shares for SAR 7.469 billion (approximately $1.992 billion). This acquisition represents a key strategic move for PIF, aligning with its broader goals to enhance the media and entertainment sectors within Saudi Arabia. MBC Group is a prominent leader in the MENA region, known for its robust array of offerings including 13 free-to-air TV channels, three radio stations, and the Arabic streaming platform Shahid, as well as MBC Studios, which focuses on high-quality content production.

MBC Group reaches around 150 million viewers worldwide each week, delivering a diverse mix of content that encompasses entertainment, drama, and sports. The company’s strong market presence not only contributes to regional media diversity, but also plays a crucial role in storytelling across the Middle East. In January 2024, MBC Group Company made significant strides by successfully listing on the main Saudi Exchange (Tadawul), further solidifying its market position.

Industry Overview in Saudi Arabia

The MENA media and entertainment sectors are positioned for significant growth, largely driven by the rapid acceleration of digital adoption among audiences and an increasing demand for localized content. As digital platforms continue to expan