MBC Group subsidiary signs 3 advertising deals

Logo of MBC Group Co.

MBC FZ, an MBC Group Co.’s wholly-owned subsidiary, signed three agreements for airtime sales and exclusive advertising representation.

For more news on listed companies

The company signed an agreement with MBC Media Solutions Co. (MMS Egypt) to sell advertising times on MBC’s channels and digital platforms in Egypt. MMS Egypt, with a 60% indirect ownership, will buy a minimum amount of advertising time and handle negotiations with clients. The contract is worth EGP 306.74 million (approx. SAR 27.1 million) and is valid from Jan. 1 to Dec. 31, 2024.

An agreement was signed with MMS UAE Co., with 60% indirect ownership, to exclusively represent MBC FZ for advertising in the GCC (excluding Saudi Arabia). This agreement extends a previous contract concluded in October 2023 by three months, ending on March 31, 2024, and is effective from Jan. 1, 2024, to Dec. 31, 2026. It includes revenue sharing from advertising sales.

The deal with MMS Saudi Arabia Co., with a 60% indirect ownership, will exclusively represent MBC FZ for advertising in Saudi Arabia. This agreement also extends a prior contract by three months, ending on March 31, 2024, and is effective from Jan. 1, 2024, to Dec. 31, 2026, with a revenue-sharing model.

All agreements are conducted in the normal course of business and involve related parties.