Saudi Research and Marketing Group
Saudi Research and Marketing Group Logo
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| Industry | Media; Public and Investor relations |
|---|---|
| Founded | 5 July 1988 |
| Headquarters | Riyadh |
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Key people
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Badr bin Abdullah Al Saud (Chairman) Ghassan Al Shibl (Managing Director - CEO) |
| Products |
Asharq Al Awsat Arab News Al Majalla Al Eqtisadiah |
| Revenue | SAR 1,066.840 millions (2010) |
| Owner | Al Ahli Capital Fund 13 29.90% Al Ahli Capital Fund 4 29.90% |
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Number of employees
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300 |
| Website | Official website |
Saudi Research and Marketing Group (SRMG) is a Saudi registered in Riyadh. The group mainly publishes, prints and distributes various publications.
The establishment of the SRMG dates back to 1963 when the first company of the group, Al Madina Printing and Publication Company, was founded. Al Madina Printing and Publication Company, later, called Saudi Printing and Packaging Company (SPPC).Hisham Hafiz was one of the founders of the company.Kamal Adham, former head of Saudi intelligence, was also one of the early shareholders of the company.
Next, the company was established in London in 1978. Ten years later, on 5 July 1988, it was registered as a limited liability company in Riyadh and then, converted into a joint stock company in 2000.
The company was listed in the Saudi stock market, Tadawul, 0n 8 April 2006 and therefore, went public. In August 2008, an independent board of trustees of the company was formed, making it the first Arab media company with such a body.
The company has been often related with the Saudi King Salman bin Abdulaziz. However, he is neither the chairman nor the shareholder of the company.
Major shareholders of the SRMG are as follows:
From 1989 to his death in 2002, Ahmed bin Salman was the chairman of the company. Then, his younger brother Faisal bin Salman became the chairman of the company. On 9 February 2013, Turki bin Salman succeeded Prince Faisal as chairman of the SRMG when the latter was appointed governor of the Madinah province. Prince Turki's term as chairman ended in April 2014 when he resigned from the post.
On 13 December 2015 the board of directors appointed Badr bin Abdullah Al Saud as the chairman and an independent member of the board.
SRMG is the largest publishing company in the Middle East engaged mainly in providing information products and services by publishing newspapers and magazines across the Middle East and globally. The company owns fifteen daily, weekly and monthly newspapers and magazines, including Asharq Al Awsat, Arab News, Al Majalla, Urdu News, Arrajol and Al Eqtisadiah. Its establishment is regarded as the beginning of the new Saudi media empire.Global Investment House in its 2009 report stated that SRMG newspapers have 29.3% market share in Saudi Arabia.
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Wikipedia