Nine companies had bid to win the license, including Saudi Specialized Publishing Co., an affiliate of the Saudi Research & Marketing Group, Arab Radio and Television Network run by Saleh Kamel, Shams alliance, Noor Telecommunications Co. alliance, Al-Jazirah Newspaper alliance, Fal alliance, Al-Mawarid Electronic Co. alliance and Al-Wataniah Advertising and Publishing alliance.
Bids were opened in the presence of Minister of Culture and Information Abdul Aziz Khoja at the King Fahd Cultural Center in Riyadh on Saturday, the Saudi Press Agency reported.
Research by the Arab Advisers Group reveal that close to 82 percent of Saudis listen to FM radio, 54 percent of them on a daily basis.
Minister Khoja congratulated Rotana for winning the bid.
The first two licenses were granted to Alf Alf alliance for SR75 million and Ghaya Innovation Holding Co. for SR66 million respectively.
The Saudi government announced in September that it was issuing licenses to private companies to operate FM radio stations.
