Two of the biggest media organizations in their respective fields have inked a landmark deal that will likely change the landscape of how Arabic business and financial news is reported and communicated in the region.
As reported by Arab News http://www.arabnews.com/node/1164451/media , Bloomberg, a global financial information and news trail blazer, together with Saudi Research and Marketing Group (SRMG), a leading integrated publishing group in the Middle East, have signed a long-term agreement to launch Bloomberg Al Arabiya.
Audio-visual & digital platform
Bloomberg Al Arabiya is set to unleash an original new multi-platform Arabic-language business and financial news service.
SRMG, publisher of leading dailies Asharq Al-Awsat, Arab News and Aleqtisadiah will produce live-format, 24-hour television and radio networks, supported by robust digital platforms.
Being one of the region’s largest publishers, SRMG will also issue Bloomberg Businessweek magazine in Arabic and launch an interactive conference and live events series.
Critical news for decision makers
These diverse channels from Bloomberg Al-Arabiya will specifically cater to global business audiences whose mother tongue is Arabic.
The platforms will seek to impart analysis and updates on company news, financial markets, global economies and geo-politics shaping the Middle East, in reliable media channels that allow business people to make informed decisions quickly and accurately.
“The Middle East is an important, economically diverse region, and our agreement with SRMG allows us to deliver the sharpest global business and financial insights to a critical audience of business decision makers,” said Michael R. Bloomberg, founder of Bloomberg L.P. and former mayor of New York City.
Prince Bader bin Abdullah Al Saud, Chairman, SRMG, adds: “In addition to the many business opportunities this collaboration brings, we believe the partnership will greatly enhance the media landscape in our region. This is an exciting development for SRMG and a strong progression in our quest to offer the highest quality financial and business journalism from, and about the Middle East.”
Support and direction
Bloomberg will provide assistance and guidance to the SRMG-led and managed Bloomberg Al Arabiya team.
Bloomberg enjoys a sizable financial and economic content and data, and with 2,700 reporters and analysts globally, it has the ability to support Bloomberg Al Arabiya with expertise and a dynamic network that together provide a critical business edge and appeal to its audiences.
“Our partnership with SRMG is a significant milestone in our regional growth story, building on the introduction of an expanded suite of new media platforms in the Middle East last year,” said Justin B. Smith, CEO, Bloomberg Media Group.
“This agreement is an integral part of our strategy of forming partnerships with leading news providers in markets that have a compelling economic growth story, as we look to further expand our localised international presence.”
Ghassan Alshibl, Managing Director and CEO, SRMG adds: “This partnership between SRMG and Bloomberg will see us expand into the international television business. With the new era of business and economic transformation in the Kingdom of Saudi Arabia, such a significant agreement between two leading brands will pave the way for a multi-platform ecosystem of specialized business and financial content of international standards. This is the beginning of a new chapter in the history of media and publishing in the region.”
For his part, Bloomberg Editor in Chief John Micklethwait said: “Bloomberg Al Arabiya will enable us to build on more than 20 years of newsgathering across the Arab world to deliver the best of Bloomberg’s news, insight and analysis.”