Saudi Arabia Public Investment Fund (PIF) has taken a 54% stake in the MBC Group as it seeks to strengthen its position as a key player in the MENA region’s media and entertainment landscape.

The Riyadh-based MBC Group announced that PIF had acquired a 54% in the company from Istedamah Holding Company’s (a subsidiary of the Saudi Finance Ministry) for an aggregate price of SAR 7,469 million ($1.9B), at a price of SAR 41.60 ($11) per share.

PIF’s plan to take a stake in the group was first announced in a filing to the Saudi stock exchange in November 2024.

The deal was carried out through a private transaction between PIF and Istedamah Holding Company.

The MBC Group, which is the biggest media and entertainment group in the region, said it remained dedicated to “producing and invest

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