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Vice Expands In Saudi Arabia, Signs Deal With Broadcast Giant MBC – The Hollywood Reporter

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The Vice Media Group It is expanding its business. Saudi Arabia MBC has reached an agreement with and has produced content. GroupThe Saudi-owned Middle East The largest media operation in the area, giant.

Unveiled on Wednesday, the deal — which was first rumored last year (the New York Times It was possible Worth “at least $50 million” — will see the youth-focused digital media company create bespoke, ArabicMentorship and training opportunities are provided. It The event will take place from Vice’s offices in Riyadh, It was first opened in 2021.

Financial terms weren’t disclosed.

“MBC Group is the leading media platform in the region, and we are happy to help extend its reach while highlighting the vibrant, emerging youth culture in the Kingdom of Saudi Arabia – where more than half the population is under the age of 35 – and across the Arabic-speaking world,” Vice Media Group CEO Nancy Dubuc.

Vice It has been present in Middle East It opened a regional office in 2017 Dubai. In In late 2018, the company disassociated itself publicly Saudi Arabia Following the assassination of Jamal KhashoggiIt claimed that it was pausing all work within the kingdom.

“Given Vice’s reputation for content and storytelling, we couldn’t ask for a better partnership with which to kick off 2023,” Sam BarnettMBC CEO GroupMore information about the deal. “We have no doubt that Vice will help deliver diverse content that will complement our current offerings on MBC.”

The The announcement of the MBC deal is made amid news that Vice The company is resuming its sale process which started last year. According CNBCThe company is now, according to sources familiar with this subject. “likely to fetch a price of below $1 billion,” In 2017, the company was valued at $5.7 million It It claimed that bidders who were not interested in the initial price tag of $1 billion to $1.5 billion had rejected it.

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