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Saudi Research and Media Group

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Saudi Research and Media Group
Company typePublic
Tadawul: 4210
ISINSA000A0JK5M3 Edit this on Wikidata
IndustryMedia
Founded1972; 52 years ago (1972)
HeadquartersRiyadh
Key people
Hisham Hafiz and Mohammed Ali Hafiz (founders), Abdulrahman bin Ibrahim Rwaita (chairman), Jomana Rashed AlRashid (Chief Executive Officer)[1]
ProductsNewspapers, magazines
RevenueSAR 3,046 million (2021)[2]
Total assets5,748,512,000 Saudi riyal (2019) Edit this on Wikidata
OwnerAl Ahli Capital Fund 13 29.90%
Al Ahli Capital Fund 4 29.90%
Number of employees
2,700 employees[3]
Websitewww.srmg.com/en

Saudi Research and Media Group (SRMG), also known as the Saudi Media Group, is a Saudi state-backed media company registered in Riyadh.[4] The group mainly publishes, prints and distributes various publications.[5] The company operates in Saudi Arabia where there are no independent media.[6]

The company has close ties to the Mohammed bin Salman government in Saudi Arabia.[6] King Salman's sons have chaired the company.[4] Its closeness to the government of Saudi Arabia has led it to be considered an outlet for the government in the west, particularly in the United Kingdom.[7]

In April 2022, SRMG announced its new headquarters in Riyadh's King Abdullah Financial District (KAFD). The new headquarters commemorates the beginning of SRMG's global expansion and will house the offices of the Asharq network.[8][9]

History

[edit]

The establishment of the SRMG dates back to 1963 when the first company of the group, Al Madina Printing and Publication Company, was founded. Al Madina Printing and Publication Company, was later called Saudi Printing and Packaging Company (SPPC) which was formally established in 1972.[10] Hisham and Mohammed Ali Hafiz were one of the founders of the company. Kamal Adham, former head of Saudi intelligence, was also one of the early shareholders of the company.[11]

Next, the company was established in London in 1978 with the launch of Asharq Al Awsat.[10] Ten years later, on 5 July 1988, it was registered as a limited liability company in Riyadh and then converted into a joint stock company in 2000.[12]

The company was listed in the Saudi stock market, Tadawul, on 8 April 2006 and therefore, went public.[12] In August 2008, an independent board of trustees of the company was formed, making it the first Arab media company with such a body.[13]

Jomana R. Al-Rashid was appointed CEO of SRMG in October 2020, becoming the first woman to hold the position. [14]

Following Saudi Crown Prince Mohammed bin Salman's visit to Egypt in June 2022, SRMG agreed to fund the launch of the three Egyptian news channels in Cooperation with the General Intelligence Service (GIS) owned United Media Services (UMS).[15]

Major shareholders

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The company has often been related to the Saudi King Salman bin Abdulaziz.[16] However, he is neither the chairman nor the shareholder of the company.

Major shareholders of the SRMG are as follows:

  • Al Ahli Capital Fund 13 29.90%
  • Al Ahli Capital Fund 4 29.90%

From 1989 to his death in 2002, Ahmed bin Salman was the chairman of the company.[16][17][18] Then, his younger brother Faisal bin Salman became the chairman of the company. On 9 February 2013, Turki bin Salman succeeded Prince Faisal as chairman of the SRMG when the latter was appointed governor of the Madinah province.[19] Prince Turki's term as chairman ended in April 2014 when he resigned from the post.[20]

On 13 December 2015 the board of directors appointed Badr bin Abdullah Al Saud as the chairman and an independent member of the board.[21] Al Saud resigned from his position in 2018, with Dr Ghassan bin Abdulrahman Al-Shibil succeeding him as chairman in June 2018.[22] After a three-year tenure, the current chairman Abdulrahman Ibrahim Alrowaita was appointed by the group in May 2021.[23]

Business fields

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SRMG is the largest publishing company in the Middle East engaged mainly in providing information products and services by publishing newspapers and magazines across the Middle East and globally.[24] The company owns more than 30 daily, weekly and monthly newspapers and magazines,[25] including Asharq Al Awsat, Arab News, Al Majalla, Urdu News, Arrajol and Al Eqtisadiah.

In 2021, SRMG titles were reported to have a combined monthly reach of 165 million.[25] In July 2021, the company changed its business model with five divisions: media, international, events, research and polling, and innovation.[25] Additionally, the company also deals with marketing, advertising and distributing services heavily across the MENA region and Europe.[26] SRMG operates in 18 locations internationally.[27]

SRMG has a free-to-air channel called Asharq Documentary, which airs Arabic-language factual content.[28]

Subsidiaries, associates and joint ventures

[edit]

Major subsidiaries, associates and joint ventures of SRMG are given as follows:[24][29]

Company Major activity Country
Al Khaleejiah Advertising and Public Relations Company Advertising and public relations services Saudi Arabia
Argaam Commercial Investment Company Publishing and electronic content Saudi Arabia
Moutamarat Company for Exhibitions and Conferences Holding and organizing specialized exhibitions, conferences and forums Saudi Arabia
Saudi Distribution Company Distribution Saudi Arabia
Saudi Specialized Printing Specialized Printing Saudi Arabia
Saudi Distribution Co. Publishing and Distribution Saudi Arabia
Sayidaty Products Co. Commercial activities Grenzee Islands
IPM Ltd Registering Maintenance and possession of intellectual properties of the Group Grenzee Islands
Global Media and Partners Ltd Commercial activities Cayman Islands
Arab Media Company Ltd. Printing and publishing Saudi Arabia
Al Ofoq Information Systems and Communication Company Information systems and communication Saudi Arabia
Saudi Research and Publishing Company Research and publishing Saudi Arabia
Saudi Commercial Company Trading in perfumes, household items, and printing supplies Saudi Arabia
Middle East Company Ltd. Printing and publishing United Kingdom
EuroMena Co. (Previously Satellite Graphics Co.) Commercial activities United Kingdom
Sayidaty Limited Company Commercial activities Grenzee Islands
Media Investment Co. Ltd Rental Services United Kingdom
Majallah Company Commercial activities United Kingdom
Gulf British Company Advertising United Kingdom
Asharq Al Awsat Co. Ltd Main Center Activities United Kingdom
Arab Media Company Commercial activities United Kingdom
HH Saudi Research and Marketing Company Publishing and distribution United Kingdom
Satellite Graphics Company Printing United Kingdom
Arab Net Technology Ltd. Internet services United Kingdom
Moroccan Printing and Publishing Company Printing and publishing Morocco
Kuwait Group for Publishing, and Distribution Company Ltd. Distribution Kuwait
Emirates Printing, Publishing, and Distribution Company Ltd. Distribution UAE
Alsharq Company for News Services Ltd Television Broadcasting and Radio and Forums UAE
VOX Asia Productions Limited Media and advertising Pakistan
Asharq News Services Multimedia (Online + TV) Saudi, UAE

References

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  1. ^ "Marking a first, Saudi Arabian woman named new CEO of SRMG". 16 October 2020.
  2. ^ "Saudi Research and Media Group announces its Annual Financial Results for the Period Ending on 2021-12-31".
  3. ^ "Saudi Research and Media Group Basic Company Profile". Global Media Market Intelligence. 28 May 2012. Retrieved 28 May 2012.
  4. ^ a b "Saudi-backed group explores launch of English news channel to rival Al Jazeera". Financial Times.
  5. ^ "Saudi Research & Media Group - Company Profile and News". Bloomberg News.
  6. ^ a b "Independent joins Saudi group to launch Middle East websites". the Guardian. 19 July 2018. Retrieved 14 March 2022.
  7. ^ Waterson, Jim (19 October 2018). "Saudi Arabia pays UK firms millions to boost image". The Guardian. Retrieved 19 October 2018.
  8. ^ صحفية, بيانات. المجموعة السعودية للأبحاث والإعلام تعلن عن مقرها الجديد في مركز الملك عبدالله المالي " كافِد" في الرياض. Zawya (in Arabic). Archived from the original on 10 May 2022. Retrieved 16 May 2022.
  9. ^ المجموعة السعودية للأبحاث والإعلام تنتقل إلى المقر الجديد بالرياض. Cairo 24 (in Arabic). 9 April 2022. Archived from the original on 18 May 2022. Retrieved 16 May 2022.
  10. ^ a b "Global Research" (PDF). mec.biz. Archived from the original (PDF) on 7 November 2011.
  11. ^ Jon B. Alterman (1 November 1998). "New Media, New Politics? From Satellite Television to the Internet in the Arab World". The Washington Institute. Retrieved 22 August 2023.
  12. ^ a b "Saudi Research and Media Group (4210)". Mubasher Info.
  13. ^ "Middle-east Arab News Opinion".
  14. ^ "Marking a first, Saudi Arabian woman named new CEO of SRMG". Al Arabiya English. 16 October 2020. Retrieved 24 September 2023.
  15. ^ "Saudi PR giant to fund TV channels run by Egyptian intelligence, report says". Middle East Eye. Retrieved 20 September 2023.
  16. ^ a b Abdul Bari Atwan; Jihad Khazen (1996). "In the Saudi pocket". Index on Censorship. 25 (2): 50–55. doi:10.1080/03064229608536032. S2CID 147214094.
  17. ^ Joe Drape (23 July 2002). "Prince Ahmed bin Salman, Top Horse Owner, Dies at 43". The New York Times. Retrieved 23 May 2012.
  18. ^ "Prince Ahmad ibn Salman passes away". Arab News. 23 July 2002. Retrieved 16 July 2012.
  19. ^ Al-Awsat, Asharq (10 February 2013). "Middle-east Arab News Opinion". Asharq Al-Awsat English Archive.
  20. ^ "Prince Turki bin Salman resigns as SRMG chairman". Arab News. Jeddah. 7 April 2014. Retrieved 10 January 2016.
  21. ^ "Prince Badr SRMG chairman". Arab News. 14 December 2015. Retrieved 10 January 2016.
  22. ^ "SRMG announces Dr Ghassan Al-Shibil as new chairman". 2 June 2018.
  23. ^ "Saudi media group SRMG appoints chairman". 25 May 2021.
  24. ^ a b "The Saudi Research and Marketing Group – SRMG". Gulf Base. Retrieved 10 January 2016.
  25. ^ a b c "Saudi Research & Media Group announces transformation strategy". 11 July 2021.
  26. ^ "Saudi Research and Marketing Group". Mubasher Info. Retrieved 21 May 2012.
  27. ^ "Saudi Research & Media Group Announces Transformation Strategy Focusing on Platform Expansion and International Partnerships Across Five New Verticals".
  28. ^ Goodfellow, Melanie (30 August 2023). "SRMG Launches Arabic-Language Asharq Documentary; First Acquisitions Include Oliver Stone's 'Nuclear Now' & PBS Investigation 'America And The Taliban'". Deadline. Retrieved 24 September 2023.
  29. ^ Annual report 2020 Saudi Research and Marketing Group
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