News Corporation is now a minority investor in Dubai-based media house Moby Group thanks to a deal between the two companies. According to the deal, News Corp will give up its 50% shareholding in Broadcast Middle East (BME), a joint venture between Moby Group and News Corp, for a minor share in Moby, which […]
News Corporation is now a minority investor in Dubai-based media house Moby Group thanks to a deal between the two companies. According to the deal, News Corp will give up its 50% shareholding in Broadcast Middle East (BME), a joint venture between Moby Group and News Corp, for a minor share in Moby, which is owned by an Afghani family. As per the agreement, News Corp will also provide the capital required for Moby to expand further.
Previously, Moby and News Corp launched two Farsi language channels through their joint venture BME.
According to a statement released by News Corp, the new deal will enable Moby to strengthen its leadership position across the regions in which it currently operates whilst working to expand its presence in new and emerging markets.
Saad Mohseni will continue to be chairman of Moby while Zaid Mohseni will serve as CEO of BME.
News Corp will have representation on Mobys Board of Directors.
