EMG is a media conglomerate that grew through a series of acquisitions from 2016 to 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. It 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 Hashima’s stake in EMG.
The company cooperates closely with state-owned media. In 2019, it signed a deal with NMA to jointly establish a new satellite channel covering the Arab region. EMG also agreed to cooperate with NMA in content production.
Source of funding and budget
EMG doesn’t release information about its financial performance. Local experts and journalists interviewed for this report in May 2024 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
According to local journalists and experts interviewed for this report, the government editorially controls the media run by EMG, mostly through its management, which is close to the country’s secret services.
No domestic statute or independent oversight or assessment mechanism that would validate the editorial independence of the EMG’s media outlets has been identified.
July 2024