MBC Group’s unit signs deal with Sela for ‘Joy Awards’ management

MBC Group’s fully owned subsidiary, MBC Media KSA Ltd., signed a service agreement with Sela Co. to provide production and management services for the 2025 Joy Awards ceremony in Saudi Arabia, organized by the General Entertainment Authority (GEA).

 

In a statement to Tadawul, the Group said the value of the agreement exceeds 10% of the company’s total revenues, based on the latest audited financial statements for 2023.

 

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Under the terms of the agreement, MBC Media will handle the production and management of the Joy Awards, scheduled for Jan. 18, 2025. Sela will finance the event and cover the agreed budget, which includes all event costs, including fees, in exchange for the services provided.

 

The agreement was signed today, Dec. 31, with the contract period running from Nov. 19, 2024, to Jan. 31, 2025. The financial impact of the agreement will appear in the company’s 2025 results.

 

There are no related parties to the deal, the statement added.