Rotana restructured into 4 business units
Riyadh, September 30, 2010
The Rotana Group will be restructured into four business units: TV broadcasting, audio, studios and Rotana Media Services.
The Emerging business and the Digital Media Business Units (BU) will be folded under these business units. The presidents of the units will report to Fahad Alsukait Rotana group CEO.
The purpose of this restructuring is to further improve the current group structure and have each BU responsible for its profit and loss, accordingly enhancing profitibility.
The organisational changes are effective immediately as Firas Khashman currently the general manager of Emerging Businesses will be appointed vice president Audio Sector reporting to Salem Al Hindi, president Audio Sector whose responsibilities have also been expanded.
“The expansion of Salem Al Hindi’s responsibilities reflects our firm confidence in his leadership,” said Prince Alwaleed, chairman of Rotana Group.
Recently, Rotana Group won the third FM radio license in Saudi Arabia for SR67 million ($17.9 million). In February this year, Rotana group also announced that Newscorp has reached an agreement to buy a 9.09 per cent stake in Rotana Group, to further develop its position in the media sector in the Middle East and expand its horizon.
In addition, a new news channel is scheduled to be launched in the near future by the group and is owned by Prince Alwaleed. It will be headed by Jamal Khashoggi.-TradeArabia News Service