Saudi Research and Marketing Group (SRMG) is a Saudi publisher whose history goes back to 1963 when Al Madina Printing and Publication Company, the precursor of the group, was established. The company runs some of Saudi Arabia’s key newspapers and magazines and news portals including Al Eqtisadiah, Asharq Al-Awsat, Arab News, The Majalla and Urdu News. The company also runs a myriad of publishing and distribution companies as well as advertising and marketing agencies in Saudi Arabia and abroad (UK, Morocco, Kuwait and UAE). In May 2021, the company was rebranded Saudi Research and Media Group.
Media assets
Print: Al Eqtisadiah, Asharq Al-Awsat, Arab News, The Majalla, Urdu News, Sayidaty, Al Jamila, Arrajol, Bassim, Heya; Digital: Asharq News
State Media Matrix Typology: Captured Public/State-Managed (CaPu)
Ownership and governance
SRMG is a joint stock company incorporated in Riyadh. The company has been listed on the Saudi stock exchange since 2006. It is majority owned by Al Ahli Capital Fund, an investment fund managed by NCB Capital, the asset management arm of the Saudi state-owned National Commercial Bank, which controls a stake of 90% in NCB Capital. The management of SRMG is filled with people loyal to the Saudi government. The current board of directors, for example, includes Ahmed bin Aqeel Al-Khatib, the Saudi minister of tourism.
Source of funding and budget
SRMG is funded primarily through commercial revenues, mainly ad sales, printing and packaging services and public relations consultancy services, according to data from the company. In 2021, the company had revenues of SAR 3.04bn (US$ 811m), up from SAR 2.26bn (US$ 602m) a year before, according to data released by the company. SRMG netted SAR 537m (US$ 143m), a major increase from the previous year.
Editorial independence
SRMG is known as being close to the Saudi government and used as a “soft power” organization to promote the Saudi interests in the west. As a result, the publisher’s media outlets are editorially controlled by the government. The company is known to be controlled by King Salman, the Saudi monarch.
No domestic statute and no independent assessment or oversight mechanism to validate the editorial independence of SRMG’s outlets have been identified.
August 2023