Saudi Research and Marketing Group (SRMG) has signed a $9 million yearly agreement with Bloomberg, giving it an exclusive license to launch Bloomberg Arabia and establish digital platforms under the brand in Arabic, it said in a statement to Tadawul on Wednesday.
Under the 10-year agreement, the Saudi company will also launch a new television and radio network, an Arabic edition of Bloomberg Businessweek, and a series of related conferences.
The project will be self-financed by SRMG, the statement said.
Financial impact of the deal is expected to appear in Q4 2017 results.
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