The Arab Radio and Television Network (ART) will soon offer up to 20 percent of its total shares for public subscription. Chairman of the Board Salah Kamel described this decision as a first step toward converting ART into an open-end joint stock company, reported Al-Hayat.
Regarding the company’s financial situation, Kamel anticipated his the regional pay-TV network would achieve a break-even point in terms of revenues and expenditures at the end of the current year.
The executive added that the ART network, which includes 45 channels, has 400,000 subscribers, of whom 250,000 subscribers are located in the Middle East and 150,000 subscribers are from the USA.
The Arab Radio and Television Network is the leading producer of premium Arabic family programming and entertainment worldwide. The company was founded in October 1993 as a private network, with administrative headquarters in Jeddah, Saudi Arabia; technical headquarters in Amman,Jordan; and production facilities spanning the entire Middle East.
ART began broadcasting five channels to Europe and the Middle East via Arabsat in 1993 from transmission facilities in Italy. ART produces over 6000 live and recorded shows every year including family dramas, series, plays, sports programs, music videos and documentaries. — (Mena Report)
© 2001 Mena Report (www.menareport.com)
