Saudi Arabia plans to turn Al Ikhbariya satellite TV channel into a limited liability company (LLC), while rebranding it to Ikhbariya Network Co.
The new LLC will be equally owned by the Saudi Press Agency and Radio and Television Corporation, Minister of Culture and Information Auwad Al Auwad said in a statement.
The decision also involves upgrading the Arabic news channel and launching a new English channel to cater to the rapid developments in local and international media, and to communicate the Kingdom’s message to the world, the minister added.
Al Ikhbariya Network is set to be run by a seven-member board with an executive bureau, three of them representing the ministry of culture and information, two independent members representing the private sector, and two members each from the Radio and Television Corporation and the SPA.
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