ABU DHABI, 8 June 2007 — President Sheikh Khalifa ibn Zayed Al-Nahyan, and ruler of Abu Dhabi, issued a law allowing the establishment of Abu Dhabi Media Company (ADMC) — a public joint stock company fully owned by the government of Abu Dhabi, with a capital of AED 100 million.
The law comes as part of Khalifa’s vision for media as an integral part of the comprehensive development drive in the emirate.
According to national news agency WAM, the board will consist of Mohammed Khalaf Al-Mazrouei as chairman, Ahmed Ali Al-Sayegh, as deputy chairman, and Mohammed Omer Abdullah, Mubarak Hamad Al-Muhairi and Abdullah Muslih Al-Ahbabi, as members. The board’s term will be for three renewable years.
Ownership of Abu Dhabi Satellite Channel, Abu Dhabi Sport Channel, Abu Dhabi Radio, Emarat FM Radio, Holy Qur’an Radio, Al Ittihad newspaper, Zahrat Al-Khaleej magazine, Al-Super magazine and Majid magazine, will be transferred to ADMC, along with their fixed and movable assets.
The law stipulates that the company will have a corporate body status and enjoy financial and administrative independence.
The law sets out the company’s duties in carrying out all media-related activities, including broadcasting, production, marketing, advertisement and other associated services, plus provision of media services via internet or any other medium and publishing of newspapers and magazines in Arabic and other languages.
The company’s duties also cover printing, publishing, distribution, promotion and advertisement, as well as training UAE nationals and prodding qualified and talented citizens to join the company’s different fields of activities.