MBC Group’s subsidiary receives SAR 345M media services request

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MBC Group’s fully owned subsidiary, MBC FZ-LLC., received a service request from ARA International Productions Co. (AIP) valued at SAR 345 million, excluding VAT.

In a statement to Tadawul, the company said the request is part of an existing master services agreement between MBC FZ and AIP, which was previously disclosed in the company’s prospectus.

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MBC FZ, along with other subsidiaries of MBC Group, will provide a range of services under the request, including operations and broadcasting for radio stations, technical services, content production, marketing and promotion, brand development, as well as the management of television channels and digital platforms.

The service request is subject to the terms and conditions of the master services agreement signed on Aug. 1, 2018, between MBC FZ and AIP, as disclosed in the company’s prospectus.