HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Rotana Group, and the owner of Alarab news channel was welcomed by HM King Hamad Bin Isa Al Khalifa who hosted a dinner in honor of Prince Alwaleed at the Bustan Palace in AlManama during HRH’s visit to Bahrain yesterday Tuesday May 8th 2012.
Prince Alwaleed was accompanied by Dr. Walid Arab Hashem, Vice Chairman-Rotana, Mr. Fahad Alsukait, CEO- Rotana Group, Mr. Jamal Khashoggi, General Manager of Alarab news channel, Mr. Yahia Al Masri, COO, Alarab Channel, Ms. Heba Fatani, Senior Executive Manager, Corporate Communications Department (KHC), Dr. Nahla Alanbar, Private Executive Assistant to HRH the Chairman, Ms. Hassna Alturki, Department Head, of Travel and External Affairs and Mr. Hani Agha, Senior Manager Travel and External Affairs.
During the dinner HM King Hamad and Prince Alwaleed discussed the warm relationship between their two countries and reviewed a number of social, economic and media issues. The meeting touched upon the latest developments in the GCC, as well as Arab and international issues.
Furthermore, while in Bahrain, Prince Alwaleed and HE Sheikh Fawaz Bin Mohammed Al Khalifa, Bahrain’s President of Information Affairs Authority signed the agreement for the Rotana and Alarab Channel headquarters’ new location in Manama, Bahrain and held a Press conference.
Prince Alwaleed commented: “This is the strategic step for Rotana and Alarab news channel and a giant leap for media in the region.”
Rotana Group is a diversified media company in the Middle East. It is the world’s largest producer of Arabic music and a key distributor and producer of Arabic movies with a library comprising more than 1,600 movies.
Rotana also owns a bouquet of leading free-to-air TV channels including LBC Group, Cinema, Khalijiyah, Masryiah, Clip and Musica broadcasting the latest Arabic movies, series and music videos globally.
Furthermore, Rotana has radio stations, a chain of cafes and its own magazine. It also operates a leading regional advertising sales arm (Rotana Media Services), responsible for advertising sales on its TV channels as well other media businesses in the region. Rotana’s content is also digitally distributed globally.
The Rotana Group employs over 1,100 employees located across the Middle East. HRH Prince Alwaleed Bin Talal, the principal shareholder of the Rotana Group, is also the beneficial owner of approximately 7% of News Corporation’s Class B Common Stock as reported on a Schedule 13G, as amended, filed on February 4, 2010.
Prince Alwaleed has a strong presence and influence in media through his investments in media and entertainment in the Arab world, and beyond like the Saudi Research and Marketing Group (SRMG), in which Kingdom Holding chaired by Prince Alwaleed holds a 29.9% stake.
The publications that fall under SRMG include Asharq Al Awsat, Al Eqtisadiah, Arab News, Hia magazine, Al Majalla magazine, Arrajol magazine and Sayidati magazine. Furthermore, other entities that fall under SRMG are Al Khaleejiya for Publicity Advertising and Public Relations and Al Madina Printing and Publishing Company.
Prince Alwaleed’s presence in Bahrain via KHC is through indirect investments in the banking sector through Citigroup which has been operating in Al Manama for the past 40 years, and in the hotels sector through Mövenpick hotel in Bahrain that is managed by Mövenpick Hotels and Resorts in which KHC owns a 33.3% stake. In addition, the Four Seasons hotel in Bahrain that is under construction, and will be managed by Four Seasons Hotels and Resorts in which KHC holds a 47.5% stake and is co-owned by Bill Gates’ Cascade in which the company also holds a 47.5% stake, and 5% of the Four Seasons is owned by Isadore Sharp, the Company’s Chairman.
In May 2011, Rotana Group announced that News Corporation has reached an agreement to exercise 50 percent of its previously announced option in Rotana Group, the Middle East media group. Under the terms of the agreement, News Corporation will acquire newly-issued shares in Rotana for $35m. The investment will take News Corporation’s total stake in Rotana to 14.53%.
In 2011, the Prince announced “Alarab” will be the name of his new international news channel. The well-known Saudi journalist, Mr. Jamal Ahmad Khashoggi, will be managing this new 24-hour channel which will target Arabic-speaking viewers across the Arab world and beyond.
Prince Alwaleed also announced an agreement with Bloomberg LP in which Bloomberg will support the creation of five-hours of financial and economic news programing throughout the day on the channel.
The Alarab news channel is an independent venture from Kingdom Holding Company and the Rotana group and is privately owned by Prince Alwaleed.
Samer Marzouq
Digital Media Superhero, Online Marketing Pro, Mad-Men Fellow, Tech Junkie, Advertising Whiz, Chief-Blogging-Officer, Bilingual Copywriter, Amateur Photographer
