Prince Alwaleed Bin Talal, chairman of Rotana Holding, chaired Rotana’s board of directors meeting.
The meeting was attended by Walid Arab Hashem, vice chairman; Fahad Alsukait, CEO Rotana Group; Nada Alsugair, board member and executive director, finance and administration, the prince’s Private Office.
The board members and representatives from 21 Century Fox were Gary Davy, Charlotte Burr, SVP corporate and development, Asia and Middle East, 21 Century Fox. In addition to John Ireland, CFO Rotana Group, Turki Alshabanah, president of Rotana TV channels, Nezar Nagro, president of Rotana Media Services and Karl Holmes, CFO 21 Century Fox (Europe and Asia).
During the meeting, the board members discussed Rotana’s 2013 achievements and results, the board commended Rotana Group for these achievements. Moreover, the board reviewed and discussed 2014 strategic plans, the operating and financial budget. The board approved these plans and budgets as submitted.
Rotana, which is majority owned by Prince Alwaleed, operates one of the largest TV networks and ad sales operations in the region and owns the largest Arabic film library. It has also built the leading record label in the Middle East, managing many of the most popular artists in the region and controlling the biggest Arabic music catalogue. Moreover, 21 Century Fox owns 19 percent stake in Rotana.
Rotana Group is a diversified media company in the Middle East. It is the world’s largest producer of Arabic music and a key distributor and producer of Arabic movies with a library comprising more than 1,600 movies.
Rotana also owns a bouquet of leading free-to-air TV channels, including Cinema, Khalijiyah, LBC, Masryiah, Clip and Musica broadcasting the latest Arabic movies, series and music videos globally.
Furthermore, Rotana has radio stations, a chain of cafes and its own magazine. It also operates a leading regional advertising sales arm (Rotana Media Services), responsible for advertising sales on its TV channels as well other media businesses in the region. Rotana’s content is also digitally distributed globally.
The Rotana Group employs over 490 employees located across the Middle East. Prince Alwaleed, the principal shareholder of the Rotana Group, is also the beneficial owner of approximately 7 percent of 21 Century Fox.