MBC Group’s Board confirmed that the acquisition makes PIF its largest shareholder, giving the Fund full voting rights tied to the 54 per cent shareholding. The remaining 46 per cent will continue under existing ownership.
Under the new ownership, MBC intends to deepen its focus on premium Arabic content production, especially in Saudi Arabia. The company will leverage its three core business verticals—Broadcasting & Commercial Activities, its streaming platform Shahid, and broader Media & Entertainment Initiatives—to expand reach and diversify its offerings.
Emerging sectors such as music, gaming, and live events are now being eyed for growth, as MBC aims to broaden its appeal across a younger demographic and international Arabic diaspora. Shahid, MBC’s flagship streaming service, is expected to play a central role in digital expansion, with investments planned to improve user experience and engagement.
PIF’s move reflects a wider strategic push by Saudi Arabia to diversify its economy beyond oil. Media and entertainment are being identified as sectors with high multiplier potential—driving not only cultural influence but also generating employment, tourism, and technology spill-overs.
Regulatory rules mandate that PIF cannot sell its newly acquired shares for six months without approval from the Capital Market Authority. Meanwhile, MBC emphasises that the structure of the deal ensures equal rights for all shareholders under Saudi law and company bylaws.
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Saudi Arabia