Rotana, the owner of the bulk of the world's Arabic media content, has acquired a controlling stake in Hyper Media, the Dubai indoor advertising company.
The deal, finalised late last month, capped a year of expansion for Rotana.
The purchase of an 80 per cent stake in Hyper Media, which owns the exclusive indoor advertising rights in the UAE to such retail giants as Carrefour and Spinneys, continues the rapid expansion of the company at a time when many other media companies are cutting back in response to slowing advertising revenue growth.
Rotana Media Services (RMS), the Dubai-based division of the Saudi Arabian Rotana media empire responsible for generating revenue through advertising and value-added services, is also set to more than double its staff by the end of next year.
"In 2008, RMS was 90 people," said Nezar Nagro, the president of RMS. "Today we are at 150, and our revenue is almost triple because we have grown so much."
Mr Nagro would not disclose the revenue, but he predicted it would be 1 billion Saudi riyals (Dh980.7 million) by the end of this year. By that point, he expected RMS to have 200 employees between its Dubai and Beirut offices.
Much of the expansion has come from taking over the lucrative advertising sales for LBC, which merged with Rotana in July after Saudi Prince Alwaleed bin Talal, who owns Rotana, increased his stake in the Lebanese satellite broadcaster to a controlling 85 per cent.
LBC had formerly had a contract with the Choueiri Group, one of the region's largest advertising companies, to sell its advertisements until 2010. The new arrangement therefore required many months of delicate negotiation, Mr Nagro said.
"We took our time because we wanted to finish it in a good situation," he said. "We didn't want to take it to court. At the end of the day, it's happened."
RMS began selling adverts for LBC last week. Jean Pierre Tannous, the general manager of Media Sat, the arm of the Choueiri Group set up in 1996 as the exclusive representative of LBC's media sales, said the division was now "dormant" and the company was relocating staff to other divisions.
"The whole operation has been absorbed," he said. "There have not been any layoffs. Media Sat is now redistributed, relocated and the company is dormant, probably waiting for another project."
RMS has also expanded its staff to handle sales stemming from this year's addition of two Fox International Channels, Fox Movies and Fox Series. Other plans in the works included the establishment of Rotana Media Services Interactive, which would be bolstered by deals with regional telecommunications companies, Mr Nagro said.
"We got the right to sell the ads on du mobile," he said. "We got the right to sell the ads on Zain mobile. This is a new market."
The company has also been revamping its website, and is looking for other websites to buy to round out its portfolio.
Such a portfolio of digital, print, television, film and musical offerings would allow RMS to offer advertisers "a 360-degree solution" that was unique in the region, Mr Nagro said. "Nobody in the market has what we have. We have content, and content is the king. If you have the content, you can do anything."
Rotana missed the brunt of the impact of the economic downturn because most of its advertisers were not among those hardest hit, he said.
"The economy affected different sectors, for example real estate and investment. We didn't get any revenue from investment companies and real estate companies. This is good for us. More of our revenue is from P&G (Proctor & Gamble), Nestle, Unilever, Coke, Pepsi."
The one dark spot might be the beleaguered car industry, which is a big Rotana advertiser, but on the whole "we are in a good position", Mr Nagro said.
Habib Wehbi, the chief executive of Hyper Media, said the decision to sell most of the company to Rotana was part of the 10-year-old company's plans to expand beyond the UAE into Saudi Arabia and other regional markets. He declined to disclose the sale price.
khagey@thenational.ae
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
RESULT
Bayern Munich 5 Eintrracht Frankfurt 2
Bayern: Goretzka (17'), Müller (41'), Lewandowski (46'), Davies (61'), Hinteregger (74' og)
Frankfurt: Hinteregger (52', 55')
MATCH INFO
Borussia Dortmund 0
Bayern Munich 1 (Kimmich 43')
Man of the match: Joshua Kimmich (Bayern Munich)
More from Aya Iskandarani
The specs
Engine: 2.9-litre, V6 twin-turbo
Transmission: seven-speed PDK dual clutch automatic
Power: 375bhp
Torque: 520Nm
Price: Dh332,800
On sale: now
What went into the film
25 visual effects (VFX) studios
2,150 VFX shots in a film with 2,500 shots
1,000 VFX artists
3,000 technicians
10 Concept artists, 25 3D designers
New sound technology, named 4D SRL
THE BIO
Bio Box
Role Model: Sheikh Zayed, God bless his soul
Favorite book: Zayed Biography of the leader
Favorite quote: To be or not to be, that is the question, from William Shakespeare's Hamlet
Favorite food: seafood
Favorite place to travel: Lebanon
Favorite movie: Braveheart
FIXTURES
All times UAE ( 4 GMT)
Saturday
Fiorentina v Torino (8pm)
Hellas Verona v Roma (10.45pm)
Sunday
Parma v Napoli (2.30pm)
Genoa v Crotone (5pm)
Sassuolo v Cagliari (8pm)
Juventus v Sampdoria (10.45pm)
Monday
AC Milan v Bologna (10.45om)
Playing September 30
Benevento v Inter Milan (8pm)
Udinese v Spezia (8pm)
Lazio v Atalanta (10.45pm)
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
Tips on buying property during a pandemic
Islay Robinson, group chief executive of mortgage broker Enness Global, offers his advice on buying property in today's market.
While many have been quick to call a market collapse, this simply isn’t what we’re seeing on the ground. Many pockets of the global property market, including London and the UAE, continue to be compelling locations to invest in real estate.
While an air of uncertainty remains, the outlook is far better than anyone could have predicted. However, it is still important to consider the wider threat posed by Covid-19 when buying bricks and mortar.
Anything with outside space, gardens and private entrances is a must and these property features will see your investment keep its value should the pandemic drag on. In contrast, flats and particularly high-rise developments are falling in popularity and investors should avoid them at all costs.
Attractive investment property can be hard to find amid strong demand and heightened buyer activity. When you do find one, be prepared to move hard and fast to secure it. If you have your finances in order, this shouldn’t be an issue.
Lenders continue to lend and rates remain at an all-time low, so utilise this. There is no point in tying up cash when you can keep this liquidity to maximise other opportunities.
Keep your head and, as always when investing, take the long-term view. External factors such as coronavirus or Brexit will present challenges in the short-term, but the long-term outlook remains strong.
Finally, keep an eye on your currency. Whenever currency fluctuations favour foreign buyers, you can bet that demand will increase, as they act to secure what is essentially a discounted property.
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.
HER%20FIRST%20PALESTINIAN
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What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
More coverage from the Future Forum
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
AIDA%20RETURNS
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ECarol%20Mansour%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3EAida%20Abboud%2C%20Carol%20Mansour%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203.5.%2F5%3C%2Fp%3E%0A
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
More from Neighbourhood Watch:
COMPANY PROFILE
Name: Mamo Year it started: 2019 Founders: Imad Gharazeddine, Asim Janjua Based: Dubai, UAE Number of employees: 28 Sector: Financial services Investment: $9.5m Funding stage: Pre-Series A Investors: Global Ventures, GFC, 4DX Ventures, AlRajhi Partners, Olive Tree Capital, and prominent Silicon Valley investors. THE CARD
2pm: Maiden Dh 60,000 (Dirt) 1,400m
2.30pm: Handicap Dh 76,000 (D) 1,400m
3pm: Handicap Dh 64,000 (D) 1,200m
3.30pm: Shadwell Farm Conditions Dh 100,000 (D) 1,000m
4pm: Maiden Dh 60,000 (D) 1,000m
4.30pm: Handicap 64,000 (D) 1,950m
RACE CARD
5pm: Sheikh Mansour bin Zayed Al Nahyan Racing Festival Purebred Arabian Cup Conditions (PA); Dh 200,000 (Turf) 1,600m
5.30pm: Sheikha Fatima bint Mubarak Cup Conditions (PA); Dh 200,000 (T) 1,600m
6pm: Sheikh Sultan bin Zayed Al Nahyan National Day Cup Listed (TB); Dh 380,000 (T) 1,600m
6.30pm: Sheikh Sultan bin Zayed Al Nahyan National Day Group 3 (PA); Dh 500,000 (T) 1,600m
7pm: Sheikh Sultan bin Zayed Al Nahyan National Day Jewel Crown Group 1 (PA); Dh 5,000,000 (T) 2,200m
7.30pm: Sheikh Mansour bin Zayed Al Nahyan Racing Festival Handicap (PA); Dh 150,000 (T) 1,400m
8pm: Wathba Stallions Cup Handicap (PA) Dh 100,000 (T); 1,400m