Prince Alwaleed visits Alarab and Rotana headquarters in Bahrain
HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC), Owner of Alarab Channel and Chairman of Rotana, visited Rotana media offices and Alarab headquarters at Bahrain World Trade Centre on Sunday 6th April 2014. His Highness was received by State Minister for Information Affairs Samira Ibrahim Bin Rajab and Information Affairs Authority President Ali Mohammed Al Rumaihi. Prince Alwaleed met with Alarab and Rotana management who briefed HRH on the latest developments at their respective entities.
The meeting was attended by Alarab and Rotana management that included Mr. Fahad Alsukait, CEO- Rotana Group and Mr. Jamal Khashoggi, General Manager of Alarab news channel.
Alarab is a 24-hour channel which will target Arabic-speaking viewers across the Arab world and beyond. Prince Alwaleed also announced an agreement with Bloomberg LP in which Bloomberg will support the creation of five-hours of financial and economic news programing throughout the day on the channel. The Alarab news channel is an independent venture from Kingdom Holding Company and the Rotana Group and is privately owned by Prince Alwaleed.
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 21st Century Fox.
Also during the visit, Prince Alwaleed attended the Formula-1 Race that took place at the Bahrain International Circuit with HRH Prince Salman Bin Hamad Al Khalifa, Crown Prince of the Kingdom of Bahrain and His Highness Sheikh Saif Bin Zayed Al Nahyan, United Arab Emirates’s Deputy Prime Minister and Minister of Interior. Prince Alwaleed was received at Bahrain International Airport by HE Sheikha Mai Bint Mohammed Al Khalifa, Bahrain’s Minister of Culture who also bid His Highness farewell at the end of the visit. In conclusion, Prince Salman thanked Prince Alwaleed for his response to the invitation. Also during HRH’s visit to Bahrain, Prince Alwaleed attended the 22nd Annual Heritage Festival with HE Sheikha Mai Bint Mohammed. The Prince was also accompanied by Mr. Alsukait, Mr. Khashoggi, Mr. Hassan Mukhtar, Advisor to HRH the Chairman, Mr. Fahad Bin Saad Bin Nafel, Executive Assistant to HRH the Chairman and Mr. Hani Agha, Senior Manager Travel & External Affairs.
KHC’s presence in Bahrain is through its indirect investments in the banking sector through Citigroup which has been operating in Al Manama for the past 40 years, and in the hotels sector through Mövenpick hotel in Bahrain that is managed by Mövenpick Hotels and Resorts in which KHC owns a 33.3% stake. In addition, the Four Seasons hotel in Bahrain will be opening soon, managed by Four Seasons Hotels and Resorts in which KHC holds a 47.5% stake and is co-owned by Bill Gates’ Cascade in which the company also holds a 47.5% stake, and 5% of the Four Seasons is owned by Isadore Sharp, the Company’s Chairman. In addition, the opening of the Four Seasons Hotel in Manama will take place in the near future.