Unconfirmed report by FT: MBC falls to Saudi anti-corruption committee

January 26, 2018 6:37 pm


The Financial Times (FT) said that the Waleed bin Ibrahim al-Ibrahim, founder of media group MBC who was caught up in the corruption crackdown led by Crown Prince Mohammed bin Salman, is soon to be released.

The cost they say is his beloved MBC Group.

AMeinfo woud like to stress that thesse speculations echo previous assumptions which surfaced but remain unconfirmed, especially that neither the government nor MBC Group confirmed to FT the story yet.

“The Saudi government plans to take control of MBC as part of Crown Prince Mohammed’s anti-corruption crackdown,” said FT.

“Officials have ordered Waleed bin Ibrahim al-Ibrahim, the founder of MBC to hand over his controlling stake in the company to secure his release, according to people briefed on the matter.”

New reports surfaced today that Waleed bin Ibrahim al-Ibrahim has been released.

FT said MBC is the largest free-to-air Arab TV network, enjoys 50% market share in kingdom and attracts 140 million viewers daily across the region.

Saudi Bakr bin Laden is reported to have let go of substantial assets from his Saudi bin Laden Group and a 5-man committee, with a majority 3 to 2 on the governmental side, is going over the numbers and asset transfers, and discussing the future governance of the group.

Watch: Is Saudi Prince Alwaleed’s deal among 5 who settled at the Ritz?

 

Mohammed al-Jadaan, the Saudi finance minister, said on Thursday from Davos that most of the $100bn Riyadh hopes to raise from corruption suspects will come from assets inside and outside the kingdom.

who really is Waleed bin Ibrahim al-Ibrahim?

Read: Fear of Saudi crackdown gone: Buinesses drooling at $100bn Aramco IPO

11 things we know about Waleed bin Ibrahim al-Ibrahim

 1- He is a Saudi, with an estimated net worth over $11bn.

2- He owns a luxury Yacht by the name of Shahnaz, measuring 63 m long, with a crew of 17 valued at $40m.

3-He served as the Governor of several regions in Saudi Arabia, such as Asir, Ta’if, and Medina.

4-His late father, Ibrahim Abdulaziz Al Ibrahim, served as Governor of Medina, Al Qunfudhah, Al Bahah, and Mecca.

5-He earned a bachelor’s degree in Media from the University of Oregon, US.

Click here: A second wave of Saudi graft probe coming: $100bn netted is just a start!

6-He has eight brothers.

7-In 2016, King Abdullah II of Jordan presented him with the Grand Master of the Order of Independence for “his accomplishments and contributions for the development of the Arab media”

8-He is a member of the advisory board of the Mohammed bin Rashid School for Communication (MBRSC) at the American University in Dubai (AUD).

9-He got his idea for MBC while studying in the U.S. and being constantly probed about the Arab world, when the internet was still in early development.

10-He named MBC, following in the footsteps of famous broadcasters ABC, BBC, and CBS.

11-According to a 2014 Al Arabia TV interview, Current Saudi King and former crown prince Sulman bin Abdel Aziz would call Waleed bin Ibrahim to ask about certain MBC telecasts.

 

 

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Hadi Khatib
By Hadi Khatib
Hadi Khatib is a business editor with more than 15 years' experience delivering news and copy of relevance to a wide range of audiences. If newsworthy and actionable, you will find this editor interested in hearing about your sector developments and writing about it.



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