According to a filing submitted by Saudi MBC Group to the Saudi Stock Exchange (Tadawul) on September 18, the Public Investment Fund (PIF), Saudi Arabia's sovereign wealth fund, has successfully completed its acquisition of a 54% stake in the Middle East's largest media group.

Through a private transaction with Istedamah Holding, PIF acquired all of its shares in MBC Group for SAR 7.46 billion (approximately $1.99 billion), at a price of approximately SAR 41.60 (approximately $11.09) per share.

In addition, MBC Group stated that PIF has become its largest shareholder, with the remaining 46% stake not included in the transaction.

This acquisition is a key step in PIF's continued advancement of its media and entertainment industry development strategy, aimed at promoting localization and building an integrated media production system to strengthen its diversified expansion in related sectors.

PIF emphasized that its acquisition of MBC, a leading Middle Eastern media company, aims to strengthen its investment in Saudi media technology, content creation, and infrastructure to solidify Saudi Arabia's position as a regional media hub and enhance local talent development.

MBC Group delivers a diverse range of content, including entertainment, film, television, and sports, to approximately 150 million viewers worldwide each week. In the first half of 2025, the media group achieved a net profit of 335 million Saudi riyals (approximately US$89 million), a 41.07% increase over the same period last year.

PIF further stated that this media investment aims to drive broader economic value creation across other sectors, including tourism, technology, leisure, sports, and real estate. It aims to leverage the influence of media content to improve public perception and promote industrial upgrading across various sectors in Saudi Arabia.

In recent years, PIF has continuously increased its investment in digital, technology, and media, promoting the integration of media with key sectors such as tourism, technology, and real estate to attract private sector partnerships and advance Saudi Arabia's economic diversification goals.

PIF has already made significant investments across multiple sectors and built a diversified investment portfolio. At the same time, the fund is gradually shifting its investment focus from international to domestic projects, reallocating capital to local economic projects of national strategic significance to optimize Saudi Arabia's economic growth opportunities.

In addition to direct investment, PIF has also signed numerous memorandums of understanding and cooperation agreements in recent years, establishing collaborative relationships with leading global companies and institutions in various fields.

For example, PIF recently signed a memorandum of understanding with Macquarie Asset Management to jointly promote investment in key Saudi industries, potentially including media-related infrastructure and technology platforms, demonstrating its continued commitment to building a strong media system conducive to content production and digital innovation.