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MBC Group's Subsidiary, MBC FZ-LLC, Secures $92 Million Service Order from ARA International Productions
By KlickAnalytics Data Insights | December 31, 2024 11:05AM ET
- The value of the service order amounts to USD 92,000,000 (approximately SAR 345,000,000) and is exclusive of Value Added Tax.
- The contract, signed on December 31, 2024, will span over a 12-month period and includes a range of operational, broadcasting, technical, and content-related services.
MBC Group Company announced that its subsidiary, MBC FZ-LLC, has clinched a major deal with ARA International Productions Company. Under this service order, MBC FZ will provide AIP with various services outlined in the existing Master Services Agreement between the two companies. This agreement includes offerings such as radio station operational support, technical services, content production, marketing, brand development, and TV channel and digital platform management.
The financial impact of this lucrative contract will be reflected in MBC Group's fiscal year 2024 results. AIP, being a related party, holds ties with MBC Group through the Chairman's ownership of 50% of ARA International Holding Company. The contract, valued at USD 92 million, marks a significant milestone for MBC FZ-LLC and solidifies their position as a key player in the media services industry.
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