beIN Sports: Saudi Media Company becomes the group's exclusive advertising agency in MENA

Saudi Media Company, an advertising sales agency, has become the exclusive advertising agency of the Qatari pay-TV group beIN Media Group in the MENA region, announced both parties on 26/10/2022.

The deal is valued at $150m (€149.7m), according to the British news agency Reuters. "The agreement covers over 90 channels, including beIN Sports, the official broadcaster of the 2022 World Cup. This partnership is consistent with global advertising trends, which promote an environment that fosters creativity and innovation in the digital industry for local and international advertising companies," said Saudi Media Company.

This agreement comes as Saudi Arabia's Public Investment Fund (PIF) and several American private equity firms have expressed interest in investing in the Qatari pay-TV group, according to the American financial news site Bloomberg on 14/10/2022. BeIN Media Group is reportedly considering "a number of strategic options," including an initial public offering, according to Bloomberg.

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