Arab Today, arab today bigger uae presence for news corp
Last Updated : GMT 11:30:55
Arab Today, arab today
Arab Today, arab today

Bigger UAE presence for News Corp

Arab Today, arab today

Arab Today, arab today Bigger UAE presence for News Corp

Abu Dhabi - Arabstoday

News Corp plans to pump funds into the Dubai media company Moby Group, which hopes to launch up to five TV stations over the next two years. Rupert Murdoch's troubled media empire said this week that it had taken a minority stake in Moby, which plans to expand across the Arab world and beyond. Moby runs several media brands in Afghanistan, including the television stations Tolo TV and Lemar TV, radio stations and a production company. Capital from News Corp will help Moby to boost the number of TV channels it operates, said Saad Mohseni,Moby's chairman and chief executive. "We are looking to launch three to five channels - in Arabic amongst other languages - in the next 18 to 24 months." Moby currently runs media brands in the Dari, Farsi and Pashto languages. Mr Mohseni said there is "enormous opportunity in the Middle East and certain other countries". However, he declined to specify which specific markets Moby planned to target. "We have some concrete plans moving forward. It's going to be predominantly broadcasting, but production of local content is very important to us. The idea for us is to diversify." News Corp has an existing relationship with Moby through a 50 per cent shareholding in Broadcast Middle East (BME), a joint venture between the two companies. BME, which specialises in Farsi broadcasts, runs the Farsi1 and Zemzemeh channels. News Corp has now traded its shareholding in BME for a minority stake in Moby, the companies said in a joint statement. "Under the terms of the agreement, News Corporation will contribute its 50 per cent shareholding in Broadcast Middle East, its Farsi-language TV joint venture with Moby, for a minority shareholding in Moby … BME will become a wholly owned subsidiary of Moby following the investment," the statement said. "News Corporation will provide strategic guidance and input via representation on the Moby board of directors," the statement added. "[It] will also provide growth capital to Moby for its expansion plans." Mr Mohseni declined to disclose the percentage stake News Corp now holds in Moby or the total investment that Mr Murdoch's company plans to commit to fund expansion. The company did not typically have lavish budgets for its TV-channel launches, Mr Mohseni said. "We are not known for launching channels with huge budgets. We are very nimble." Moby Group operates in Dubai and Afghanistan, and Mr Mohseni said it was considering a wider base in the UAE. "We will probably bolster our presence in the UAE. We are in talks with folks in Abu Dhabi as well." James Murdoch, the deputy chief operating officer at News Corp, said the markets covered by Moby were "challenging, yet very promising". "Merging our Farsi joint venture into Moby allows us to expand our activities with what is surely one of the most dynamic and exciting media businesses in emerging markets anywhere," he said. News Corp declined to disclose financial details of the deal with Moby when contacted by The National. Rupert Murdoch has been slowly building his business in the Middle East. An Arabic-language version of Sky News - which is part-owned by News Corp - is to be launched in the spring. Fox International Channels, a unit of News Corp, already broadcasts 12 channels in the Middle East and North Africa. Pay-TV channels operated by Star, News Corp's Asian satellite-TV network, are also beamed across the region. News Corp also has a stake in the Saudi Arabian media company Rotana. Despite its growth in the Middle East, News Corp has been rocked by the phone hacking scandal in the UK, in which some of its employees were accused of illegally intercepting voicemail messages.  the national .

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bigger uae presence for news corp Arab Today, arab today bigger uae presence for news corp

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bigger uae presence for news corp Arab Today, arab today bigger uae presence for news corp

 



Arab Today, arab today
Arab Today, arab today Arab tradition glitters in Colombia

GMT 12:59 2017 Thursday ,19 October

Arab tradition glitters in Colombia
Arab Today, arab today Second US judge orders freeze

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Tillerson heads to Gulf, downbeat

GMT 09:23 2017 Friday ,20 October

Tillerson heads to Gulf, downbeat
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Actress Shery Adel happy for Egypt’s qualification

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 18:29 2017 Sunday ,03 September

Designer produced new set of ornaments

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:43 2017 Wednesday ,18 October

Fake dentists ply brisk trade

GMT 06:52 2017 Monday ,16 October

Airbus CEO says won't cling to job

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 19:29 2017 Tuesday ,29 August

Yomna: decoration leaved positive effects
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday