Mike Sneesby Appointed CEO of Top Middle East Broadcaster MBC Group as Sam Barnett Steps Down
Barnett, who led MBC for more than 20 years in two separate stints has been instrumental to MBC becoming a major Middle East player in both the linear and streaming spheres. Barnett will now join PPF Group's Central European Media Enterprises as its Prague-based CEO.
More from Variety
Mike Sneesby Resigns as CEO of Australia's Nine Entertainment
Hend Sabri on Arabic Adaptation of 'The Good Wife': 'It's Crucial to Have Such a Nuanced Character in This Part of the World'
'Top Chef Middle East' Moves to Saudi Arabia's Neom Hub for New Season
Sneesby left Nine Entertainment, which spans TV, streaming and newspapers, in September 2024 following months of turmoil including the passing of a staff no confidence motion against him and the group's board of directors.
Sneesby was previously co-founder of Australian streamer Stan and its CEO from 2015.
Sneesby's appointment to lead MBC Group comes as the Saudi-owned group is on a growth trajectory after floating a 10% stake on the Riyadh stock exchange at the end of 2023 and gaining increasing traction on its streaming side.
The Saudi government currently owns a 60% stake in MBC while the rest is held by MBC Group chairman Waleed bin Ibrahim Al-Ibrahim who founded the pan-Arab satcaster that operates leading premium streamer Shahid VIP.
Streaming is booming across the Middle East and North Africa (MENA) region, where the OTT subscription video market enjoyed robust 13% growth in 2023, led by local players Shahid and StarzPlay, according to media analyst Omdia. It expects streaming revenues to reach $1.2 billion in 2024.According to Omdia, Shahid — which is part of Saudi-owned linear TV operator and streamer MBC Group — leads the MENA streaming market with a 22% share thanks to its 3.6 million subscribers at the end of 2023.
Best of Variety
New Movies Out Now in Theaters: What to See This Week
What's Coming to Disney+ in April 2025
The Best Celebrity Memoirs to Read This Year: From Chelsea Handler to Anthony Hopkins
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Los Angeles Times
14 minutes ago
- Los Angeles Times
Irvine-based MeridianLink to go Private in $2-Billion Transaction
Irvine-based MeridianLink Inc., a provider of modern software platforms for financial institutions and consumer reporting agencies, entered into an agreement to be acquired by funds advised by affiliates of Centerbridge Partners LP in an all-cash transaction that values MeridianLink at an enterprise value of approximately $2 billion. Upon closing of the transaction, MeridianLink will become a private company. MeridianLink shareholders will receive $20.00 per share in cash for each share of common stock they own. That represents a premium of approximately 26% over the closing price of MeridianLink shares as of August 8, the last full trading day prior to the transaction announcement. 'Today's announcement is a strong endorsement of our leading digital lending platform that serves nearly 2,000 community financial institutions and reporting agencies,' Larry Katz, president and chief executive-designate of MeridianLink, said in a statement. 'Together with Centerbridge, we will unlock the potential of this company by accelerating product innovation, harnessing the power of AI and data, and enhancing the delivery of exceptional customer experiences.' The MeridianLink Board of Directors unanimously approved the transaction, which is expected to close in the second half of 2025, subject to regulatory approvals and customary closing conditions. Upon completion of the transaction, MeridianLink's common stock will no longer be listed on any public market. The private company will remain headquartered in Irvine. Centerview Partners LLC is serving as lead financial advisor, and Goodwin Procter LLP is serving as legal advisor to MeridianLink. J.P. Morgan Securities LLC also served as a financial advisor to MeridianLink. Joele Frank, Wilkinson Brimmer Katcher is serving as strategic communications advisor to MeridianLink. Goldman Sachs & Co. LLC is serving as financial advisor to Centerbridge, and Kirkland & Ellis is serving as its legal counsel. Kekst CNC is serving as strategic communications advisor to Centerbridge. Information for this article was sourced from MeridianLink Inc.
Business Journals
14 minutes ago
- Business Journals
St. Louis transit business buys local competitor
Axel Transportation, a St. Louis-based transportation services business, has acquired a local competitor, nearly doubling its staff and growing its vehicle fleet.
Business Wire
14 minutes ago
- Business Wire
AerSale ® Appoints Paul Hechenberger as Senior Vice President, General Counsel & Corporate Secretary
MIAMI--(BUSINESS WIRE)--AerSale® (NASDAQ: ASLE), a leading provider of aviation products and services, today announced the appointment of Paul Hechenberger as Senior Vice President, General Counsel & Corporate Secretary. Hechenberger brings more than four decades of legal, leadership, and aerospace experience to AerSale, with extensive expertise in complex commercial transactions, mergers and acquisitions, corporate governance, and compliance. Prior to joining AerSale, Hechenberger was a Partner with Miami-based law firm Shutts & Bowen. His previous leadership roles include serving as General Counsel at iAero Group, Deputy General Counsel at Spirit AeroSystems, General Counsel at BBA Aviation (Aftermarket Services), Chief M&A Counsel at BBA Aviation, and Corporate Counsel at Tyco Fire & Security. A U.S. Navy veteran, Hechenberger served as an EA-6B Naval Flight Officer, retiring with the rank of Captain after a combined 30 years of active and reserve service. He holds a Juris Doctor from the University of Florida, an MBA from the University of West Florida, and a BSBA from Villanova University. He is licensed to practice law in the state of Florida. "Paul's extensive legal expertise and deep understanding of the aerospace industry make him an outstanding addition to our executive team," said Nicolas Finazzo, Chief Executive Officer of AerSale. "His proven leadership and strategic counsel will be instrumental as we continue to grow our business and deliver value to our shareholders." About AerSale® AerSale serves airlines operating large jets manufactured by Boeing and Airbus and is dedicated to providing integrated aftermarket services and products designed to help aircraft owners and operators realize significant savings in the operation, maintenance and monetization of their aircraft, engines, and components. AerSale's offerings include Aircraft & Component MRO, Aircraft and Engine Sales and Leasing, Used Serviceable Material sales, and internally developed 'Engineered Solutions' to comply with regulatory mandates and/or to enhance aircraft performance and operating economics (e.g. AerSafe®, AerTrak®, and AerAware™).
