Saudi Gazette report

RIYADH — The Public Investment Fund (PIF) has completed the acquisition of a 54 percent stake in the Kingdom’s leading media company, MBC Group, in a deal valued at SR7.469 billion ($2 billion).

MBC announced the transaction on Thursday in a disclosure to the Saudi Exchange, confirming that Istedamah Holding Company had sold its entire stake of 179.5 million shares to PIF.

The deal, executed as a negotiated private transaction, was finalized at SR41.60 per share.

The acquisition, completed after securing all regulatory approvals, reflects PIF’s ongoing strategy to strengthen Saudi Arabia’s media and entertainment sector.

The move aims to foster innovation, build an integrated media production ecosystem, and support long-term growth.

According to the statement, the transaction is expected to generate positive outcomes across MBC’s operations, shareholders, and employees. It will enhance the company’s media offerings and growth prospects, raise shareholder value through sector development, and create new opportunities for employees in the Kingdom’s expanding entertainment and media industries.