The Egyptian Media Group and D Media Group, owner of DMC Channels, have announced initiating a merger to form a strong Egyptian media entity. The bloc aims to bring Egypt’s media back to its leading position across the region and the world.
In a press release, the Egyptian Media Group said that with the ongoing circumstances of the current period impacting the economy, the media thus requires the establishment of a strong Egyptian media entity that can rise above the narrow competitiveness.
The CEO of Egyptian Media Group, Hossam Salah, confirmed that he signed the merger agreement with Amr El-Feky, CEO of D Media. The technical departments of both parties will soon begin implementing the process.
Amr El-Feky said that through the merger the group aims to make a breakthrough in media content by working to the highest international standards.
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The Egyptian Media Group recently announced a plan to offer its shares on the Egyptian Exchange. The group has signed a deal with a major player in the field to conduct the necessary studies.
Published first on: Daily News Egypt