Riyadh – Mubasher: MBC Group has announced the successful conclusion of its Ordinary General Meeting (OGM), where shareholders approved the financial results for the fiscal year ending 31 December 2025 and ratified a series of high-value related party contracts.
The meeting, held on 28 June at the company’s headquarters in Riyadh and via electronic platforms, saw a significant turnout with 90.59% of the share capital represented.
Key outcomes included the approval of the board of directors' report, the discharge of board members from liability for the previous fiscal year, and the authorization of substantial commercial agreements involving senior leadership interests.
The assembly, chaired by Waleed bin Ibrahim Al Ibrahim, reviewed and approved the audited financial statements and the auditor’s report for 2025.
Shareholders also voted in favor of a total remuneration package for the company’s leadership, allocating SAR 2.85 million for board members and SAR 1.80 million for members of the various board committees for their service during the 2025 period.
A significant portion of the assembly’s agenda focused on the ratification of business contracts and agreements involving related parties, specifically those in which Chairman Waleed bin Ibrahim Al Ibrahim and Vice Chairman Hindi bin Abdullah Al Suhaimi hold indirect interests. These transactions were conducted under standard commercial terms without preferential conditions.
Among the notable approvals were several agreements with Middle East News, involving advertising airtime and administrative services. These included advertising revenue totaling SAR 23.63 million and administrative service revenues amounting to SAR 78.76 million.
Conversely, the group incurred costs of SAR 75.15 million for news programming and advertising time from the same entity. Furthermore, contracts with Ara International for Artistic Production were approved, representing media service revenues of SAR 274.11 million and production costs of SAR 32.91 million.
The assembly also ratified production service costs paid to Al Sadaf for Audio and Video Production Ltd., totaling SAR 199.85 million.
The assembly also addressed large-scale financial and project-based agreements involving Al Istidama Holding, where Vice Chairman Hindi bin Abdullah Al-Suhaimi has an indirect interest.
These approvals centered on amendment agreements to existing project frameworks, primarily aimed at extending timelines and reallocating funding. One such amendment involved a project agreement with MBC Media Ltd. with an uncommitted allocated amount of $507.87 million (approximately SAR 1.90 billion).
Other significant project amendments included a $318.53 million (SAR 1.19 billion) agreement with MBC Initiatives Ltd. and two separate arrangements with MBC Studios Projects FZ. The latter involved a $671.14 million (SAR 2.52 billion) agreement to change a guaranteeing party and a $725 million (SAR 2.72 billion) agreement designed to provide greater flexibility in intellectual property structuring and grant reallocations.
