Saudi Arabia’s Public Investment Fund (PIF) has acquired a 54 per cent stake in MBC Group, the region’s largest media and entertainment company.
The SR7.5bn ($2bn) transaction was completed privately with Istedamah Holding Company.
PIF bought Istedamah Holding Company’s full 54 per cent share in MBC for SR7.469bn ($1.99bn), at SR41.60 per share.
PIF becomes majority stakeholder in MBC
This acquisition makes PIF the majority owner of MBC Group, supporting Saudi Arabia’s efforts to expand its media and entertainment sector under Vision 2030.
MBC Group affirmed its commitment to producing and investing in high-quality Arabic content that appeals to audiences across the Middle East and the global Arabic-speaking community.
The company is prioritising local production in Saudi Arabia while continuing to develop its main divisions: broadcasting, SHAHID (its video streaming platform), and broader media and entertainment ventures.
MBC highlighted that its television operations provide a robust base for growth, while SHAHID, the leading Arabic streaming service in the MENA region, will play a central role in driving expansion by improving user experience and engagement.
Furthermore, MBC is investigating opportunities in emerging areas such as music, gaming, and live events, aiming to diversify revenue sources and strengthen its market presence.
