More music, more films, more Rotana! Alwaleed ok's expansion and restructuring
Prince Alwaleed Bin Talal, Chairman of Rotana Holding, chaired Rotana’s Board of Directors meeting attended by 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.
It was also attended by the Board members and representatives of 21 Century Fox Gary Davy; and Charlotte Burr, Head of Strategy and Development, Asia Pac, 21 Century Fox. In addition to 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 & General Counsel were also present.
During the meeting, the board members discussed Rotana’s achievements and commended Rotana Group for these achievements.
The company said in a statement Wednesday that the Board reviewed and discussed 2013 strategic plans, the operating and financial budget, and referred to the latest developments of Rotana and approved expansion and restructuring plans.
Rotana, which is majority owned by Prince Alwaleed, operates one of the largest TV networks and ad sales operations in the region and owns the largest Arabic film library. It has also built the leading record label in the Middle East, managing many of the most popular artists in the region and controlling the biggest Arabic music catalogue. Moreover, 21 Century Fox owns 19 percent stake in Rotana.
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.
Prince Alwaleed, the principal shareholder of the Rotana Group, is also the beneficial owner of approximately 7 percent of 21 Century Fox’s Class B Common Stock.
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