MBC Group signs SAR 52.5M TV series production deal

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MBC Group said its wholly-owned subsidiary, MBC Studios Projects Saudi Arabia Ltd, signed a $14 million (SAR 52.50 million) TV series production contract with Ay Yapim Middle East for Media, Visual and Audio Production, a related party.

The contract is for the production of a 30-episode TV series under the working title "Al Ashaa Street". It will be effective from the signing data until all episodes and deliverables are completed, as per the agreement, the company said in a statement on Tadawul.

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Completion and delivery are expected in 2025, MBC said, noting that the deal falls within its routine operations, with no preferential terms.

The contract’s financial impact will appear in MBC's 2025 results.

Ay Yapim Middle East is 30% owned by Ara International Art Production, which is a wholly-owned subsidiary of Ara International Holding. The latter is equally owned by the company's Chairman and Istedamah Holding Co., one of the major shareholders.