MBC Group

MBC Group (Arabic: مجموعة إم بي سي, romanized: Majmūʿat ʾIm Bī Sī), formerly known as Middle East Broadcasting Center (مركز تلفزيون الشرق الأوسط, Markaz Tilifizyūn al-Sharq al-ʾAwsaṭ), is a Saudi media conglomerate based in the Riyadh region. Launched in London in 1991, the company moved its headquarters to Dubai in 2002 and to Riyadh in 2022. It is majority owned by the Saudi government-operated Public Investment Fund.

MBC Group operates over 19 free-to-air satellite TV channels, and a video-on-demand service (Shahid). MBC 1 was the first broadcaster to provide a satellite-based, free-to-air 24-hour television broadcasting network across the Arab world. The Group's current chairman is Sam Barnett. Barnett returned as MBC Group CEO in December 2020 after a one-year departure. MBC's television arm broadcasts via Eutelsat, Arabsat and Nilesat satellites. MBC has more than 2,000 staff.

In recent years MBC has been hit with major rounds of financial cuts, leading to 150 layoffs and major production cuts. These cuts were driven in part due to advertising not covering production costs and the failure to acquire exclusive rights to the Saudi league. As of 2011 MBC reported 165 million viewers.

In 2023, 60% of MBC group was owned by Istedamah Holding Company (a subsidiary of the Saudi government's Ministry of Finance), with the rest belonging to its founder Waleed bin Ibrahim Al Ibrahim. In 2023, MBC Group announced its initial public offering (IPO). The offering consisted of a primary offering of 33,250,000 new ordinary shares, representing 10% of the company's share capital post-listing. This move marked a significant step in the company's financial strategy and opened up new avenues for investment and growth. By October 2024, the stake owned by Istedamah had dropped to 54%, and this stake was transferred to the Public Investment Fund in November 2024.