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Eye of Dubai
Business & Money | Sunday 26 May, 2024 11:24 am |
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MBC inks SAR 65.1M TV series production contract

MBC Group’s wholly owned subsidiary, MBC FZ-LLC, signed a TV series production contract with MedYapim Middle East Audiovisual Media Production Co. at SAR 65.1 million, according to a statement to Tadawul.

 

The contract will start as of the signing date and the series production will end in January 2025 with all the 90 episodes to be fully finalized by February 2025.

 

The contract entails the production of a TV series consisting of 90 episodes, under the working title "Mother Anne".

 

The production contract is expected to be completed by February 2025, in accordance with the terms and conditions of the agreement.

 

The contract will have a relevant positive impact on the company’s financials in 2025.

 

MedYapim is a subsidiary of MBC Group, and thus a related party.

 

Additionally, Waleed Al-Ibrahim, MBC Group Chairman, has an indirect interest in this contract, the statement added.

 

The contract came amid the company’s usual course of business and does not include any preferential benefits.

 

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