Top Saudi broadcaster caught up in Riyadh’s corruption shakedown:
"Saudi Arabian authorities plan to take control of the Middle East’s largest media company as part of Crown Prince Mohammed bin Salman’s extraordinary anti-corruption crackdown.
Officials have ordered Waleed bin Ibrahim al-Ibrahim, the founder of the Middle East Broadcasting Center (MBC), to hand over his controlling stake in the company to secure his release, according to people briefed on the matter.
His case illustrates how the crackdown, lauded by many Saudis as an overdue attack on corruption, appears in part to be a shakedown of coveted assets and is leading to the nationalisation of private sector powerhouses. It also hints at a desire by Prince Mohammed to tighten the government’s grip on the media as he pushes ahead with ambitious reform plans and an increasingly assertive foreign policy."
'via Blog this'
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