Fahad Alsukait, COO of Rotana Group, received the award on behalf of Prince Alwaleed, which was presented to him by ITP CEO Walid Al-Akawi.

Prince Alwaleed received the award in recognition of his strong presence, influence and his investments in media and entertainment in the Arab world and beyond.

Rotana owns the largest Arabic music library in addition to having technological expertise enabling it to establish high-tech studios for sound recording, computer programming, production and sound mixing.

Rotana Group is a key distributor and producer of Arabic movies, manages many of the most popular artists in the region and controls the biggest Arabic music catalog. Rotana also owns a bouquet of leading free-to-air TV channels including LBC Sat, Cinema, Khalijiyah and Musica broadcasting the latest Arabic movies, series and music videos globally and a library comprising more than 1,500 movies.

Rotana produces over half of Arab film annually. Furthermore, Rotana has radio stations as mentioned, a chain of cafes and its own magazine. It also operates a leading regional advertising sales arm, Rotana Media Services, which is responsible for advertising sales on its TV channels as well other media businesses in the region. Rotana's content is also digitally distributed globally through its innovative Rotana Digital Media unit. The Rotana Group employs over 1,300 employees located across the Middle East.

Recently, Rotana Group announced it had won the third FM radio license in the Kingdom of Saudi Arabia for SR67 million. Moreover, Rotana Group also recently announced that News Corporation has reached an agreement to buy a 9.09 percent stake in Rotana Group, the Middle East media group. Under the terms of the agreement, News Corporation will acquire newly issued shares in Rotana for $70 million. News Corporation has an option to increase its stake to 18.18 percent in the 18 months following completion.

The announcement was made during a press conference held at Rotana offices at Kingdom Tower.

During the conference, Prince Alwaleed said that Rotana’s deal with News Corp. was not only a great achievement for Rotana but to the Arab media sector as a whole as News Corp. is the largest media company globally and reaches all continents.

Prince Alwaleed added that Rotana was selected for its strength in the Arab world and will further be enhanced by News Corp.’s expertise in this field, that includes television and film production. Kingdom Holding Company (KHC) chaired by Prince Alwaleed, the principal shareholder of the Rotana Group, is owner of approximately 7 percent of News Corporation’s Class B Common Stock.