Saudi Research and Marketing Group

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Saudi Research and Marketing Group
Industry Media; Public and Investor relations
Founded 5 July 1988; 26 years ago (1988-07-05)
Headquarters Riyadh
Key people Turki bin Salman (Chair)
Mohammad H. A. Al Amoudi (Shareholder)
Dr. Azzam M. Al Dakhil (CEO)[1]
Products Asharq Al Awsat
Arab News
Al Majalla
Al Eqtisadiah
Revenue SAR 1,066.840 millions (2010)[2]
Owners Kingdom Holding Co. 29.90 %
Prince Faisal bin Salman al Saud 6.80 %
Mohammad H. A. Al Amoudi 5.60%
General Organization for Social Insurance (GOSI) 5.20%
Employees 300[2]
Website Official website

Saudi Research and Marketing Group (SRMG) is a Saudi joint stock company registered in Riyadh. The group mainly publishes, prints, and distributes various publications.[3]

History[edit]

The establishment of the SRMG dates back to 1963 when the first company of the group, Al Madina Printing and Publication Company was founded.[4] Al Madina Printing and Publication Company, later, called Saudi Printing and Packaging Company (SPPC).[5] Hisham Hafiz was one of the founders of the company.[6] Kamal Adham, former head of Saudi intelligence, was also one of the early shareholders of the company.[7]

Next, the company was established in London in 1978.[8] Ten years later, on 5 July 1988. it was registered as a limited liability company in Riyadh and then, converted into a joint stock company in 2000.[9]

The company was listed in the Saudi stock market, Tadawul, 0n 8 April 2006 and therefore, went public.[10][11] In August 2008, an independent board of trustees of the company was formed, making it the first Arab media company with such a body.[10]

Major shareholders[edit]

The company has been often related with the Saudi defense minister and Crown Prince Salman bin Abdulaziz.[12] However, he is neither the chairman nor the shareholder of the company.

Major shareholders of the SRMG are as follows:[1]

Kingdom Holding Co. 29.90%
Prince Faisal bin Salman Al Saud 6.80%
Mohammed Hussein Al Amoudi 5.60%
General Organization for Social Insurance (GOSI) 5.20%

Kingdom Holding Company of which chairman and CEO is Prince Al Waleed bin Talal, declared that it acquired the shares of SRMG in January 2007 through privately negotiated and stock exchange purchases.[13][14]

From 1989 to his death in 2002, Ahmed bin Salman was the chairman of the company.[12][15][16] Then, his younger brother Faisal bin Salman became the chairman of the company. On 9 February 2013, Turki bin Salman succeeded Prince Faisal as chairman of the SRMG when the latter was appointed governor of the Madinah province.[17]

Business fields[edit]

SRMG is the largest publishing company in the Middle East engaged mainly in providing information products and services by publishing newspapers and magazines across the Middle East and globally.[1] The company owns fifteen daily, weekly and monthly newspapers and magazines,[13] including Asharq Al Awsat, Arab News, Al Majalla, Urdu News, Arrajol and Al Eqtisadiah. Its establishment is regarded as the beginning of the new Saudi media empire.[8] Global Investment House in its 2009 report stated that SRMG newspapers have 29.3% market share in Saudi Arabia.[4]

Additionally, the company also deals with marketing, advertising and distributing services heavily across the MENA region and Europe.[18] SRMG operates in seven countries.[2]

Subsidiaries, associates and joint ventures[edit]

Major subsidiaries, associates and joint ventures of SRMG are given as follows:[1]

Company Major activity Country
Al Khaleejiah Advertising and Public Relations Company Advertising and Public relations services Saudi Arabia
Saudi Distribution Company Distribution Saudi Arabia
Arab Media Company Ltd. Printing and publishing Saudi Arabia
Al Ofoq Information Systems and Communication Company Information systems and communication Saudi Arabia
Saudi Research and Publishing Company Research and publishing Saudi Arabia
Saudi Commercial Company Trading in perfumes, household items, and printing supplies Saudi Arabia
Middle East Company Ltd. Printing and publishing United Kingdom
HH Saudi Research and Marketing Company Publishing and distribution United Kingdom
Satellite Graphics Company Printing United Kingdom
Arab Net Technology Ltd. Internet services United Kingdom
Moroccan Printing and Publishing Company Printing and publishing Morocco
Kuwait Group for Publishing, and Distribution Company Ltd. Distribution Kuwait
Emirates Printing, Publishing, and Distribution Company Ltd. Distribution UAE

Auditors[edit]

The SRMG is being audited by Pricewaterhouse Coopers.[1][9]

References[edit]

  1. ^ a b c d e "The Saudi Research and Marketing Group – SRMG". Gulf Base. Retrieved 21 May 2012. 
  2. ^ a b c "Saudi Research and Marketing Group Basic Company Profile". Global Media Market Intelligence. 28 May 2012. Retrieved 28 May 2012. 
  3. ^ "Saudi Research and Marketing Group". Bloomberg. 15 August 2012. Retrieved 23 August 2012. 
  4. ^ a b "Saudi Research and Marketing Group". Global Investment House. November 2009. Retrieved 28 May 2012. 
  5. ^ "Our Profile". SPPC. Retrieved 29 May 2012. 
  6. ^ "Saudi media pioneer dies". AMEInfo. Arab News. 27 February 2006. Retrieved 12 August 2012. 
  7. ^ Alterman, Jon B. (1998). "New Media New Politics?". The Washington Institute 48. Retrieved 7 April 2013. 
  8. ^ a b Nawar, Ibrahim (2006). "Arab media lagging behind". WACC. Retrieved 5 June 2012. 
  9. ^ a b "Investor relations". SRMG. Retrieved 21 May 2012. 
  10. ^ a b "SRMG Becomes First Arab Media Group to Set up Board of Trustees". Asharq Alawsat. 18 August 2008. Retrieved 5 April 2013. 
  11. ^ "SRMG Goes Public". The Arab Press Network. 28 March 2006. Retrieved 9 September 2014. 
  12. ^ a b Atwan, Abdul Bari; Jihad Khazen (1996). "In the Saudi pocket". Index on Censorship 25 (2): 50–55. doi:10.1080/03064229608536032. 
  13. ^ a b "Saudi Research and Marketing Group (SRMG)". Kingdom Holding Company. Retrieved 21 May 2012. 
  14. ^ "International Investments". Kingdom Company Holding. January 2011. Retrieved 8 June 2012. 
  15. ^ Drape, Joe (23 July 2002). "Prince Ahmed bin Salman, Top Horse Owner, Dies at 43". The New York Times. Retrieved 23 May 2012. 
  16. ^ "Prince Ahmad ibn Salman passes away". Arab News. 23 July 2002. Retrieved 16 July 2012. 
  17. ^ "Prince Turki bin Salman New SRMG Chairman". Asharq Alawsat. 10 February 2013. Retrieved 26 February 2013. 
  18. ^ "Saudi Research and Marketing Group". Mubasher Info. Retrieved 21 May 2012.