Prince Alwaleed Heads Rotana Board Meeting
Prince Alwaleed Approves Expansion & Restructuring Plans
HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Rotana Holding, chaired Rotana's Board of Directors meeting. The meeting was attended by Dr. Walid Arab Hashem, Vice Chairman, Mr. Fahad Alsukait, CEO Rotana Group, Ms. Nada Alsugair, Board Member and Executive Director, Finance and Administration, HRH’s Private Office. The Board members and representatives from 21 Century Fox were Mr. Gary Davy, Ms. Charlotte Burr, Head of Strategy and Development, Asia Pac, 21 Century Fox. In addition to Mr. John Ireland, CFO Rotana Group, Mr. Turki Alshabanah, President of Rotana TV Channels, Mr. Nezar Nagro, President of Rotana Media Services and Mr. James Ward, Chief Legal Officer & General Counsel.
During the meeting, the board members discussed Rotana’s acheivements and commended Rotana Group for these acheivements. Moreover, the Board reviewed and discussed 2013 strategic plans, the operating and financial budget, and referred to the latest developments of Rotana and approved expansion and restructuing plans.
Rotana, which is majority owned by Prince Alwaleed, operates one of the largest TV networks and ad sales operations in the region and owns the largest Arabic film library. It has also built the leading record label in the Middle East, managing many of the most popular artists in the region and controlling the biggest Arabic music catalogue. Moreover, 21 Century Fox owns %19 stake in Rotana.
Rotana Group is a diversified media company in the Middle East. It is the world's largest producer of Arabic music and a key distributor and producer of Arabic movies with a library comprising more than 1,600 movies. Rotana also owns a bouquet of leading free-to-air TV channels including LBC Group, Cinema, Khalijiyah, Masryiah , Clip and Musica broadcasting the latest Arabic movies, series and music videos globally. Furthermore, Rotana has radio stations, a chain of cafes and its own magazine. It also operates a leading regional advertising sales arm (Rotana Media Services), responsible for advertising sales on its TV channels as well other media businesses in the region. Rotana's content is also digitally distributed globally. The Rotana Group employs over 510 employees located across the Middle East. HRH Prince Alwaleed Bin Talal, the principal shareholder of the Rotana Group, is also the beneficial owner of approximately 7 percent of 21 Century Fox’s Class B Common Stock as reported on a Schedule 13G, as amended, filed on February 4, 2010
21 Century Fox (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) had total assets as of June 30th, 2011 of approximately US$62 billion and total annual revenues of approximately US$33 billion. 21 Century Fox is a diversified global media company with operations in six industry segments: cable network programming; filmed entertainment; television; direct broadcast satellite television; publishing; and other. The activities of 21 Century Fox are conducted principally in the United States, Continental Europe, the United Kingdom, Australia, Asia and Latin America.