Saudi Research and Marketing Group

The establishment of the SRMG dates back to 1963 when the first company of the group, Al Madina Printing and Publication Company, was founded.[5] Al Madina Printing and Publication Company, later, called Saudi Printing and Packaging Company (SPPC).[6] Hisham Hafiz was one of the founders of the company.[7] Kamal Adham, former head of Saudi intelligence, was also one of the early shareholders of the company.[8]

Next, the company was established in London in 1978.[9] Ten years later, on 5 July 1988, it was registered as a limited liability company in Riyadh and then, converted into a joint stock company in 2000.[10]

The company was listed in the Saudi stock market, Tadawul, 0n 8 April 2006 and therefore, went public.[11][12] In August 2008, an independent board of trustees of the company was formed, making it the first Arab media company with such a body.[11]

The company has been often related with the Saudi King Salman bin Abdulaziz.[13] However, he is neither the chairman nor the shareholder of the company.

Major shareholders of the SRMG are as follows:[14]

• Al Ahli Capital Fund 13 29.90%
• Al Ahli Capital Fund 4 29.90%

From 1989 to his death in 2002, Ahmed bin Salman was the chairman of the company.[13][15][16] Then, his younger brother Faisal bin Salman became the chairman of the company. On 9 February 2013, Turki bin Salman succeeded Prince Faisal as chairman of the SRMG when the latter was appointed governor of the Madinah province.[17] Prince Turki's term as chairman ended in April 2014 when he resigned from the post.[18]

On 13 December 2015 the board of directors appointed Badr bin Abdullah Al Saud as the chairman and an independent member of the board.[19]

SRMG is the largest publishing company in the Middle East engaged mainly in providing information products and services by publishing newspapers and magazines across the Middle East and globally.[14] The company owns fifteen daily, weekly and monthly newspapers and magazines,[20] including Asharq Al Awsat, Arab News, Al Majalla, Urdu News, Arrajol and Al Eqtisadiah. Its establishment is regarded as the beginning of the new Saudi media empire.[9] Global Investment House in its 2009 report stated that SRMG newspapers have 29.3% market share in Saudi Arabia.[5]

Additionally, the company also deals with marketing, advertising and distributing services heavily across the MENA region and Europe.[21] SRMG operates in seven countries.[1]