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Saudi Research and Media Group (SRMG), acting through its subsidiary Arab Media Company, is increasing its stake in Thmanyah Company for Publishing and Distribution to 75%, and will inject SAR 52.36 million ($14 million) in fresh capital.
Arab Media, which currently holds a 51% stake in the digital media company, will pay SAR 45 million to existing partners in Thmanyah as part of the transaction.
SRMG has also committed to provide up to SAR 200 million in additional funding over four years on ordinary, non‑preferential terms to support Thmanyah’s operations.
SRMG said the deal is part of its growth strategy to expand Thmanyah’s content in visual sports and non-sports sectors.
(Writing by Bindu Rai, editing by Brinda Darasha)
