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Yahoo-Maktoob deal may spur Mideast online sector
- Middle East: Tuesday, September 29 - 2009 at 11:34
Yahoo's acquisition of Jordan-based Maktoob, the largest Arabic online community, could be a catalyst for the region's internet market and help boost the online media sector across the whole region, according to a report by A T Kearney, a strategic consulting firm. 'Yahoo's acquisition of Maktoob does not come as a surprise to us, as it provides Yahoo with immediate access to the fast growing Arab and Muslim market. Our study shows that across the Arab world there is increasing disposable income for entertainment, an improving regulatory environment and a burgeoning youth population (50% are below 30 years old) that is open to new technology. Together this is driving a 19% annual growth rate in the media sector; while the rest of the media world is stagnant or in decline,' said Christophe Firth, senior consultant in A T Kearney's Media Practice.
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StaffTuesday, September 29 - 2009 at 11:34 UAE local time (GMT+4)
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This article was updated on Wed Sep 30 2009.
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