Saudi media group SRMG inks deal to launch ‘Bloomberg Al Arabiya’ network

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Prince Bader bin Abdallah bin Mohammad bin Farhan Al Saud (L) with Mr. Michael R. Bloomberg, founder of Bloomberg L.P. and former mayor of New York City at the Bloomberg Global Business Forum in New York. (AN photo)
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Dr. Ghassan Alshibl, MD and CEO of SRMG (R) signing the Agreement with Justin Smith, CEO of Bloomberg Media in Bloomberg’s headquarters in New York. (AN photo)
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Dr. Ghassan Alshibl, Managing Director and CEO, SRMG (first right) Justin B Smith, CEO, Bloomberg Media (first left), John Micklethwait, Editor-in-Chief, Bloomberg (second left) and Mr. Abdulrahman Alruwaita, Chairman of the Executive Committee, SRMG. (AN photo)
Updated 21 September 2017

Saudi media group SRMG inks deal to launch ‘Bloomberg Al Arabiya’ network

RIYADH: Saudi Research and Marketing Group (SRMG) today said it has entered a long-term agreement with US-headquartered media firm Bloomberg to launch a multi-platform Arabic-language business and financial news service.
SRMG — publisher of Asharq Al-Awsat, Arab News and Aleqtisadiah — plans a 24-hour television and radio network and dedicated digital platform under the “Bloomberg Al-Arabiya” brand.
It will also publish “Bloomberg Businessweek” magazine in Arabic and launch a new conference and live events series, according to a statement from the company.
The Bloomberg Al-Arabiya platforms will provide Arabic-speaking audiences around the world with news and analysis on the companies, markets, economies and politics shaping the Middle East, the statement said.
Prince Bader bin Abdullah Al-Saud, chairman of SRMG, said the deal would give a boost to the regional media industry.
“We are very pleased with this promising partnership with Bloomberg. In addition to the many business opportunities this collaboration brings, we believe the partnership will greatly enhance the media landscape in our region,” he said.
“This is an exciting development for SRMG and a strong progression in our quest to offer the highest quality financial and business journalism from, and about the Middle East.”
Michael R. Bloomberg, founder of Bloomberg and former mayor of New York City, said, “The Middle East is an important, economically diverse region and our agreement with SRMG allows us to deliver the sharpest global business and financial insights to a critical audience of business decision makers.”
Headquartered in the Gulf, the Bloomberg Al Arabiya team will be managed by SRMG with support from Bloomberg, and will draw on its financial and economic content and data as well as its 2,700 reporters and analysts globally.
“Our partnership with SRMG is a significant milestone in our regional growth story, building on the introduction of an expanded suite of new media platforms in the Middle East last year,” said Justin B. Smith, CEO of Bloomberg Media Group. “This agreement is an integral part of our strategy of forming partnerships with leading news providers in markets that have a compelling economic growth story, as we look to further expand our localized international presence.”
Dr. Ghassan Al-Shibl, managing director and CEO of SRMG, said: “As one of the biggest media publishing houses in the Middle East, this partnership between SRMG and Bloomberg will see us expand into the international television business. With the new era of business and economic transformation in the Kingdom of Saudi Arabia, such a significant agreement between two leading brands will pave the way for a multi-platform ecosystem of specialized business and financial content of international standards. This is the beginning of a new chapter in the history of media and publishing in the region.”
Bloomberg editor in chief John Micklethwait said: “Bloomberg Al Arabiya will enable us to build on more than 20 years of newsgathering across the Arab world to deliver the best of Bloomberg’s news, insight and analysis.”


Lebanese journalist Roula Khalaf becomes first female editor of Financial Times

Updated 12 November 2019

Lebanese journalist Roula Khalaf becomes first female editor of Financial Times

  • Khalaf has served as deputy editor, foreign editor and Middle East editor during her more than two decades at FT
  • Khalaf will join Katharine Viner at the Guardian as one of the few women to edit major newspapers in Britain

LONDON: Lebanese journalist Roula Khalaf will become the first woman to edit the Financial Times in its 131-year history after Lionel Barber, Britain’s most senior financial journalist, said he would step down.
Barber said on Tuesday he would leave in January after 14 years as editor and 34 years at the Nikkei-owned newspaper, which had one million paying readers in 2019, with digital subscribers accounting for more than 75% of total circulation.
Khalaf has served as deputy editor, foreign editor and Middle East editor during her more than two decades at the salmon-pink FT and in recent years has sought to increase diversity in the newsroom and attract more female readers, while also becoming the publication’s first Arab editor.
“It’s a great honor to be appointed editor of the FT, the greatest news organization in the world.
“I look forward to building on Lionel Barber’s extraordinary achievements,” said Khalaf, whose earlier writing for Forbes magazine had earned her a small role in Martin Scorsese’s The Wolf of Wall Street.
Her article described the leading character Jordan Belfort as sounding like a twisted version of Robin Hood who takes from the rich and gives to himself and his merry band of brokers.
Khalaf will join Katharine Viner at the Guardian as one of the few women to edit major newspapers in Britain and one of few leading female editors in the world after Jill Abramson left the New York Times.
Before joining the FT in 1995, Khalaf worked at Forbes in New York and earned a master’s at Columbia University and graduated from Syracuse University.
Tsuneo Kita, chairman of Japan’s Nikkei which bought the FT from Pearson in 2015, said in a statement Khalaf was chosen for her sound judgment and integrity.
“We look forward to working closely with her to deepen our global media alliance.”
Nikkei’s Kita described Barber as a strategic thinker and true internationalist, adding he was very sad to see him leave.
“However, both of us agree it is time to open a new chapter,” he said.
During his time as editor, Barber engineered a successful push into online subscription that protected the title as others battled an unprecedented collapse in advertising revenue, as well as managing the move to a new owner.