Today, Monday, the General Competition Authority in Saudi Arabia has announced that it has no objection to the completion of the economic concentration process between Saudi Research and Media Group and Eight Publishing and Distribution Company, according to a tweet on the authority’s Twitter account.
Saudi Research and Media Group (SRMG) announced in mid-July that it has acquired a majority stake of 51% in Eight Company, one of the leading document producers and a leading podcast platform in Middle East and North Africa.
The acquisition of Eight Company is an extension of the new digital strategy recently launched by the group, which aims to develop quality and exclusive content that simulates crucial contemporary themes and is based on technology and interaction across platforms of social media and various media. This acquisition helps support Eight Company’s ambitions to reach the widest possible segment of the public in around the world, leveraging the group’s global network of platforms and partnerships, along with strengthening the group’s leadership through the company’s vision and creative capabilities.
to announce#Competition_general_competitionFor its sake, there is no objection to the completion of the process of economic concentration between:
Research group e media Saudi
Eight publishing and distribution companies photo.twitter.com / yEFgfR6fJs
– The General Competition Authority (@SaudiGAC) September 20, 2021
Eight Company was founded in Saudi Arabia in 2016 and its programs enjoyed a wide and widespread following, including the podcast “Fenjan”, the talk show Arab that got more than 1.6 million views per month. Other popular programs of the platform include “Swalif Business”, “Socrates” and “Athing thatced us”Eight podcasts and documentaries have won 7 awards in Middle East and North Africa, including two from the Saudi Ministry of Information.
The Socrates Program documented the steps towards achieving the Vision 2030 goals over a three-year period, during which it hosted more than 50 Saudi prominent personalities. In addition, Eight Company has produced more than 90 documentaries and short films that have garnered over 15 million views. The platform’s documentaries cover various topics, including the production of videos on political, historical and cultural figures, including documentaries: “How Did Malcolm face X Racism and extremism after returning from Hajj? And “Look at the man who predicted the future of the Arabs – Edward Said” and “The console Saudi who was kidnapped in Iran”.
Interestingly, the Saudi Research and Media Group (SRMG) relies today, as part of its new digital transformation strategy, on 5 major pillars of business, which provide knowledge value and opportunity business promising. The group is also considered to be one of the most prestigious media groups in the region and the world and the main source of news and information for over 165 million readers, surfers and viewers every month.
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