Riyadh, Saudi Arabia – Na wah! As we dey waka through September 2025, news don land say Saudi Arabia Public Investment Fund (PIF) don finalize their takeover for MBC Group with 54% stake! This one dey shake the media and entertainment ground for MENA region o. E no be small thing!
PIF don collect this stake from Istedamah Holding Company, wey belong to Saudi Ministry of Finance, for a whopping SAR 7.469 billion (that na around $1.9 billion). Dem buy 179.55 million shares for SAR 41.60 each, na serious money we dey talk here o (e be like say dem go use am open new chapters for MBC!).
For those wey no sabi MBC Group, make I yan am for you. This group na the big boss for media and entertainment inside Middle East and North Africa. Dem get about 150 million viewers every week! You fit imagine the kind content wey dey flow from their channels, e be like say dem dey serve hot jollof each time!
So wetin make this takeover wetin everybody dey talk so? PIF don already dey plan how to diversify Saudi economy from oil reliance. With this big investment, dem dey target to grow their media influence, especially as e get new streaming trends wey dey show face for global market. This one na part of their Vision 2030 wey dey aim to bring Saudi Arabia enter the new age.
MBC Group, wey don start since 1991 for London, don make serious moves since then – dem move their HQ go Dubai in 2002, and recently shift am to Riyadh for 2022. Their channel list dey long, from MBC1, MBC2, MBC3 to niche channels like MBC Bollywood and MBC Iraq. Dem even get Shahid, wey na one of the top Arabic streaming platforms – so you fit guess say content dey hot!
The group don yan say dem dey committed to dey produce high-quality Arabic content wey go connect with the audience all over the world. And as if that one no dey enough, dem dey plan to enter new areas like music, gaming, and events. Na who no wan party with PIF and MBC now?
PIF don make am clear say dem dey aim to boost local talent and create more opportunities for private sector hustle. Dem wan turn Saudi into regional media hub, so all the talents wey dey ground go fit shine. Make we just dey observe how this one go play out.
So dear readers, as you dey sip your palm wine or your fav drink, know say entertainment world for MENA don change as PIF don enter with their giant leap. E be like say we go dey enjoy better shows and more amazing content from MBC in the coming years. E get as e be, sha!
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