The consolidation of Dubai’s media assets is continuing apace, with control of the Arab Media Group being transferred to Dubai Media Inc.
The move is the result of a directive from Sheikh Mohammed bin Rashid, ruler of Dubai, and follows the switching of ownership of Al Bayan newspaper from AMG to DMI early last month.
A statement said that all “printing and publishing, Dubai Radio and television, with all their assets, rights, contracts and liabilities will transfer from Arab Media Group to Dubai Media Inc”.
The decision means Emirates Business 24/7 and its Arabic sister paper Emarat Al Youm, Masar Printing and Publishing Company and Noor Dubai Radio and TV, are now under the control of DMI, which is home to Dubai TV and Dubai One.
Najla Al Awadhi, deputy CEO of DMI, had said in an interview with Campaign in June that consolidation was due to take place: “I would think in the next couple of months you will see some interesting changes in the media landscape of Dubai. There definitely is going to be a drive to consolidate media assets, with synergies between the Dubai media assets, us being one of them, amongst many other assets which are media related.”
It is not yet known how the move will affect the senior managment structure of both groups, or whether Abdullatif Al Sayegh will continue as CEO of AMG.