SRMG | |
ISIN | SA000A0JK5M3 |
Industry | Media |
Founded | 1972 |
Headquarters | Riyadh |
Key people | Hisham Hafiz and Mohammed Ali Hafiz (founders), Abdulrahman bin Ibrahim Rwaita (chairman), Jomana Rashed AlRashid (Chief Executive Officer) [1] |
Products | Newspapers, magazines |
Revenue | SAR 3,046 million (2021) [2] |
Total assets | 5,748,512,000 Saudi riyal (2019) |
Owner | Al Ahli Capital Fund 13 29.90% Al Ahli Capital Fund 4 29.90% |
Number of employees | 2,700 employees [3] |
Website | www |
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]
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]
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:
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]
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]
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 |
Sultan bin Salman Al Saud is a Saudi prince and former Royal Saudi Air Force pilot who flew aboard the American STS-51-G Space Shuttle mission as a payload specialist. He is the first member of a royal family to fly in space, the first Arab to fly in space, and the first Muslim to fly in space, as well as the youngest person ever to fly on the Space Shuttle. On 27 December 2018, he was appointed as chairman of the Board of Directors of the Saudi Space Commission at the rank of minister. He is the eldest surviving son of King Salman.
Salman bin Abdulaziz Al Saud is King of Saudi Arabia, reigning since 2015 and has served as Prime Minister of Saudi Arabia from 2015 to 2022. The 25th son of King Abdulaziz, the founder of Saudi Arabia, he assumed the throne on 23 January 2015. Prior to his accession, he was Crown Prince of Saudi Arabia from 18 June 2012 to 23 January 2015. Salman is the third oldest living head of state, the oldest living monarch, and Saudi Arabia's first head of state born after the unification of Saudi Arabia. He has a reported personal wealth of at least $18 billion, which makes him the third wealthiest royal in the world and one of the wealthiest individuals in the world.
Princes' School is a school in Riyadh, Saudi Arabia.
Asharq Al-Awsat is an Arabic international newspaper headquartered in London. A pioneer of the "off-shore" model in the Arabic press, the paper is often noted for its distinctive green-tinted pages.
Faisal bin Salman Al Saud is a member of the House of Saud and was governor of Madinah province in Saudi Arabia from 14 January 2013 to 12 December 2023.
Ahmed bin Salman Al Saud was a Saudi royal and media executive who was also a major figure in international thoroughbred horse racing. He was the third son of Salman bin Abdulaziz Al Saud, then governor of Riyadh and current king of Saudi Arabia.
The Majalla, often directly transliterated as Al Majalla is a Saudi-owned, London-based political news journal published in Arabic, English and Persian. The magazine's headquarters in Saudi Arabia is in Jeddah.
Sayidaty is a weekly Arabic and a monthly English women's magazine published in both Riyadh and Beirut and distributed throughout the Middle East, North Africa, Europe and America.
Arab News is an English-language daily newspaper published in Saudi Arabia. It is published from Riyadh. The target audiences of the paper, which is published in broadsheet format, are businessmen, executives and diplomats.
Abdulaziz bin Turki Al Saud, also known as Abdulaziz bin Turki Al Faisal, is a former Saudi racing driver and businessman as well as a member of the House of Saud. Prince Abdulaziz is the minister of sports appointed by King Salman with a royal decree on 25 February 2020.
Turki bin Abdullah Aldakhil is a Saudi diplomat and journalist, and the current Saudi ambassador to the United Arab Emirates. He is the former general manager of Al Arabiya Television News Network in Dubai, the owner of Al Mesbar Studies and Research Centre and Madarek Publishing House in Dubai, and was previously a political correspondent for Radio MBC FM in Dubai and Radio Monte Carlo in Saudi Arabia. In February 2019, Al-Dakheel took the oath to become ambassador to the United Arab Emirates (UAE).
Al Eqtisadiah is a Saudi daily business newspaper, published by Saudi Research and Publishing Company. It has been in circulation since 1962.
Al Jamila is an Arabic monthly women's magazine, published in Dubai. It is one of the publications of the Saudi Research and Marketing Group.
Turki bin Salman Al Saud is a Saudi prince and businessman who is the chairman of Tharawat Holding Company. On 9 February 2013 he was appointed chairman of the Saudi Research and Marketing Group (SRMG) and served in the post until 6 April 2014.
Khalid bin Bandar Al Saud is a Saudi Arabian soldier and member of the House of Saud, who served as the president of General Intelligence, the deputy defense minister and as the governor of the Riyadh Province. Prince Khalid is the grandson of Ibn Saud and was the first of such distinction to serve as the governor of the Riyadh Province.
Turki bin Abdullah Al Saud is the seventh son of King Abdullah of Saudi Arabia. He served as deputy governor and then, governor of Riyadh Province from 2013 to 29 January 2015. He was one of the 11 princes detained in November 2017 by Mohammad bin Salman as a part of his anti-corruption drive on accusations of corruption in the Riyadh Metro project and taking advantage of his influence to award contracts to his own companies. It was reported in August 2023 that after a trial he was sentenced to 17 years in prison.
Hia is an Arabic monthly women's magazine. It focuses on news in regard to affluent women and businesswomen in the Arab world.
Salman bin Yousif Al Amour Al Dossary is a Saudi national who works as a media representative and journalist who held the position of editor-in-chief for the London-based Asharq al-Awsat newspaper from 2014 to 2016. On 5 March 2023, he was appointed Minister of Media by Royal Decree.
Argaam is a Saudi Arabian financial news portal and considered as the primary source to media and public for financial news as it provides real-time updates on financial markets as well as market data and analysis, interviews, and coverage of stocks listed across the region. Argaam has won UAE App & Web Award and is operated by the Argaam Investment Company, which launched the Arabic version in March 2007 and an English variant in April 2015.
Bader bin Abdullah bin Mohammed bin Farhan Al Saud is a Saudi Arabian businessman and politician who is a member of the Saudi royal family and the inaugural Saudi Arabian minister of culture. He is in charge of various key positions directly related to the execution of Saudi Vision 2030. Prior to his appointment as minister of culture, he was the chairman of the Saudi Research and Marketing Group. He was also appointed Governor of the Royal Commission for AlUla Governorate in July 2017.