EMG is a media conglomerate that has grown through a series of acquisitions carried out during the period 2016-2018. The group now owns the television networks CBC, AlHayah TV and ON, five print media outlets and a video platform. It also runs advertising and marketing agencies.
Media assets
Print: Al Youm Al Sabea, Ain Al Mshaheer, Sout Al Ouma, Egypt Today, Business Today
Television: Al Hayah, ON E, ON Sport, CBC Egypt, CBC Drama, CBC Sofra, CBC Extra
Radio: Nile Radio Company (Mega FM, Nagham FM, Shabee FM, Radio Hits)
State Media Matrix Typology: State-Controlled (SC)
Ownership and governance
EMG is owned by Eagle Capital Financial Investments, a state-owned investment fund controlled by the Egyptian intelligence services. EMG is believed to have been founded in 2016 by Ahmed Abu Hashima, a businessman with ties to the security services. Eagle Capital Financial Investments announced in 2017 that it bought the stake owned by Hashima in EMG.
The company cooperates closely with the state-owned media. In 2019, it signed a deal with NMA for cooperation to jointly establish a new satellite channel that is to cover the Arab region. EMG also agreed with NMA to cooperate in content production.
Source of funding and budget
EMG doesn’t release information about its financial performance. Local experts and journalists say that the group receives massive amounts of financing from the state through various schemes and agreements. As EMG has been increasingly cooperating with state media, it gets substantial funds from the government to pay for these services.
Editorial independence
The media run by EMG are editorially controlled by the government mostly through their management that is close to the country’s secret services, according to local journalists and experts.
No domestic statute and no independent oversight or assessment mechanism that would validate the editorial independence of the EMG’s media outlets have been identified.
August 2023