Riyadh - Mubasher: Istedamah Holding Company, one of the substantial shareholders in MBC Group, sold its 54% stake in the media group to the Public Investment Fund (PIF), according to a bourse filing.

Under the deal, the fund acquired 179.55 million shares in MBC Group in exchange for SAR 7.46 billion, according to a bourse disclosure.

The acquisition was implemented through a private transaction, which equates to SAR 41.60 per share, for Istedamah Holding’s entire stake in the listed group.

The transaction is part of PIF’s ongoing strategy to boost the media and entertainment sectors. It also aims to develop Saudi Arabia’s capabilities by localizing and building a comprehensive media production ecosystem, which is expected to have a positive impact on the activities of MBC Group.

In the first half (H1) of 2025, the Tadawul-listed company recorded 41.07% higher net profits at SAR 335.43 million, compared to SAR 237.77 million.