q.media acquires Gulf Film
- Qatar: Sunday, February 24 - 2013 at 09:39
- PRESS RELEASE
Continuing its mission to deliver exceptional media content globally, the Qatari group, Qatar Media Services (q.media), has completed the acquisition of Gulf Film and Grand Cinemas, the largest film distributor and cinema operator in the Middle East.
Founded in 1989, Gulf Film today distributes the lion's share - an unequivocal 50% market share - of the Middle East's movie releases; among its sources for the Gulf territories are Hollywood majors Paramount and Universal. Gulf Film also holds leading exhibitor status through its Grand Cinemas movie theatres, the region's largest cinema chain with more than 136 screens and 60% of the UAE's film exhibition market.
Yousif R. Al Khater, Group Chief Executive at q.media, commented on the acquisition: "Gulf Film is certainly a great addition to q.media's growing media and entertainment service portfolio and we will surely utilize its unwavering market dominance to our benefit."
"This is a great moment for q.media," added Jaber Al Ansari, Chief Enterprise Management Officer at q.media. "Gulf Film is considered to be one of the biggest film distribution firms in the region and with its vast numbers of theaters it is a complete entertainment package."
Selim El Azar, Chief Executive Officer of Gulf Film, said, "Over the past years, the q.media name has resonated throughout the region and the world, having set a new standard in media delivery with integrity and excellence. For Gulf Film and Grand Cinemas, this acquisition further solidifies our leadership in the entertainment arena and bolsters our combined vision for an era of unprecedented growth throughout the Middle East."
Gulf Film has promising expansion plans expected in the MENA region, including Qatar, where q.media is the dominant outdoor media service provider.
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