Dubai; Saudi Arabia's media giant MBC Group has acquired a minority stake in Al Arabia - Arabian Contracting Services, which is part of Engineer Holding Group (EHG). The investment will support MBC’s growth in advertising sales in the Kingdom and enable Al Arabia to build its "out-of-home" advertising services across the region.
The acquisition follows the recent announcement that MBC will be launching MBC Media Services, an in-house advertising and sales unit in partnership with EHG. MBC Media Services will be majority controlled by MBC and will begin operations at the start of next year.
This approach will allow MBC to work more closely with its clients, which include leading global consumer brands, their marketing and advertising companies, and media buyers.
Waleed Al Ibrahim, Chairman of MBC Group, said: “Our strategy, similar to many of the world’s leading media groups, is to continue adding offers and services to connect with audiences throughout the day across multiple platforms; and offer our advertising clients access to the most engaged regional consumers.”