Football broadcast deal is big bet for STC, says CEO

06/02/2018 Argaam

 

Saudi Telecom Co’s (STC) agreement with the Saudi General Sports Authority (GSA) and Football Federation to secure exclusive broadcast and marketing rights of local football games is an essential investment for the company, CEO Khalid Biyari told Al Arabia TV.

 

STC has secured 10-year exclusive broadcast and sponsorship rights to the Saudi football league for SAR 6.6 billion.

 

"This agreement will be one of the most essential investments by STC in the coming period," said Biyari.

 

The agreement will take effect as of the 2018-2019 season, where the company will launch a TV channel to broadcast local football encounters.

 

"We have conducted required due diligence and will sign the agreement within two months," he added.

 

No clear terms have been announced on the business model of the project, and whether matches will be broadcast free for all or otherwise.

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