SRMG subsidiary raises stake in Thmanyah to 75%

In a statement to Tadawul, SRMG said the agreement includes a capital increase at Thmanyah through the settlement and capitalization of previous payments and financing provided by Arab Media to Thmanyah, totaling SAR 52.4 million to date.

It added that Arab Media will, under the settlement arrangement, pay SAR 45 million in cash to the partners Abdulrahman Abumalih, Aseel Baabdullah, and Meem Company for Research and Studies.

The group said the increase in ownership to 75% remains subject to obtaining the required regulatory approvals.

Arab Media also committed to providing additional financing to Thmanyah over four years, with a ceiling of SAR 200 million, under normal non-preferential terms, to support its operational activities based on future needs and conditions, with the loan maturing four years from the date of issuance.

SRMG stated that the arrangement aligns with its growth and expansion strategy and aims to enhance the performance of its subsidiaries, leveraging its financial position and available liquidity levels without causing any material adverse impact on working capital.

It added that the arrangement supports Thmanyah’s strategy to expand in both sports and non-sports video content, following its acquisition of exclusive broadcasting rights for Saudi sports competitions for six seasons, strengthening its presence in the advertising and digital content sectors.

SRMG noted that Joumana Al-Rashed, CEO and board member of the group, also serves as chair of Thmanyah’s board of managers, with no conflict of interest in the transaction.

The group expects the financial impact of this arrangement to begin from H2 2026.

In 2021, SRMG announced that Arab Media acquired a 51% stake in Thmanyah Publishing and Distribution for SAR 33.31 million, Argaam data showed.