MBC Group Acquires 14% Stake in Anghami
MBC operates 13 free-to-air TV channels and runs the streaming platform Shahid, known as the Netflix of the Middle East.
Saudi Arabia's MBC Group has acquired a 14% stake in Anghami, the music streaming service in the Middle East and North Africa (MENA).[1]
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Through its investment arm, MBC Ventures, the media conglomerate quietly purchased over 4 million shares of Anghami.
This partnership will enable Anghami to access MBC's extensive distribution network and potential collaborations for original content.
Anghami, founded in Lebanon in 2012, has built a subscriber base exceeding 1.73 million users.
Currently, Waleed Al Ibrahim, a businessman and the company's group chairman, owns the remaining 40% of MBC Group, leaving Al Istedamah Holding with a 60% ownership stake.
MBC was founded more than 30 years ago. It operates 13 free-to-air TV channels and runs the streaming platform Shahid, known as the Netflix of the Middle East.