Dubai Media Inc. obtains ownership rights of government controlled media outlets

Mon, 2009-10-12 10:06 - By

Media Business, Media, Abdullatif Al Sayegh, Arab Media Group, Dubai Holding, Dubai Media Incorporated, Emarat Al Youm, Emirates Business 24/7, Sheik Mohammed bin Rashid Maktoum

Followed by Sheik Mohammed bin Rashid Al-Maktoum’s instructions, government controlled radio stations, newspapers and television will be brought under the umbrella of one holding company. The emailed statement specifies that all assets, rights, contracts and liabilities will be transferred from Arab Media Group to Dubai Media Inc.

Assets previously held under Dubai Holding's unit Arab Media Group, including the newspapers Emirates Business 24/7 and Arabic daily Emarat Al Youm, will now fall under the ownership of Dubai Media Incorporated.

Abdullatif Al Sayegh, chief executive of Arab Media Group, didn't answer phone calls.