Saudi billionaire Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) on Tuesday announced Bahrain to be hub for Al Arab News Channel.
The streaming of 13 TV News Channels from Bahrain under Al Arab News umbrella will be run by Prince Waleed Talal’s media empire known as Rotana Group.
The Kingdom Bahrain has become home to Al-Arab News Channel and its studios. Rotana Group has also decided to relocate its top executive management from Riyadh to Bahrain as per December 12, 2012, while maintaining its studios in Cairo and Beirut.
Saudi Prince also witnessed the signing of two separate agreements with Bahrain’s Information Affairs Authority led by Shaikh Fawaz bin Mohammed Al Khalifa.
Prince Waleed evaded the question about the financial impact of the project, which according to him would be up and running from early 2013, said Manama, among other capitals in the GCC, become a choice to host Rotana Group project, after a careful consideration of all aspects.
“His Majesty King Hamad’s vision on freedom of speech and expression and Bahrain’s vibrant economic climate were two major reasons for Rotana Group to select Bahrain as its hub for the media business,” Prince Waleed told the reporters.
Two agreements have been signed at the Sofitel Bahrain Zallaq Thalassa Sea and Spa, in the presence of His Royal Highness Prince Al-Waleed bin Talal bin Abdulaziz Al-Saud.
Information Affairs Authority President Shaikh Fawaz bin Mohammed Al-Khalifa sealed the deals respectively with Al-Arab News Channel director-general and editor-in-chief Jamal Khashoggi and Rotana Media Group Chief Executive Officer Fahd Al-Sukat.
Shaikh Fawaz thanked His Royal Highness Prince Al-Waleed bin Talal bin Abdulaziz Al-Saud for trusting in Bahrain’s media openness, deregulated economy and technical and human competences.
He wished pioneering Rotana Group and Al-Arab News Channel, along with their media and administrative staff, success in assuming their mission and preserving their outstanding status on the Arab and international media map.
He hailed the historic event, which builds up on other landmark achievements in the prosperous era of His Majesty King Hamad bin Isa Al-Khalifa.
Shaikh Fawaz said the crucial step would have positive dividends in expanding the scope of media freedom, attracting international corporations and encouraging investments in the planned free media zone, in addition to generating jobs and transferring media expertise to benefit national media cadres.
Shaikh Fawaz seized the occasion to extend congratulations to HM the King, His Royal Highness Prime Minister Prince Khalifa bin Salman Al-Khalifa and His Royal Highness Prince Salman bin Hamad Al-Khalifa, Crown Prince and Deputy Supreme Commander on this landmark achievement.
He also paid tribute to the wise leadership for supporting media development under the reform project.
His Royal Highness Prince Al-Waleed bin Talal bin Abdulaziz Al-Saud and IAA President Shaikh Fawaz bin Mohammed Al-Khalifa then held a joint press conference.