Lebanon Businessnews News

Several share sales in broadcast media
Transactions include Future TV, Al Jadeed, Fame FM, and Voice of the People
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A number of shareholders in Future TV, Al Jadeed, Fame FM, and Voice of the People radio station, have sold their shares to family members or other individuals.

Samir Hammoud, Chairman of the Board of Directors of Future TV, sold 285,260 of his shares to Ramzi Atef Jbeily, General Manager of the station.

Ghida Tahseen Khayat has acquired 49,005 shares of Al Jadeed Television from Rida Ali Ismail. She is the daughter of the founder of the company that owns the TV station. 

Ghaleb Kandil, member of the National Media Council said that this activity is an administrative routine and does not involve any unusual activity. “The active media law compels the approval of the Cabinet, following that of the National Media Council, to sell any shares in media institutions, whether radio or TV stations.”

A new group of shareholders is currently on board of ‘Faddoul Music Enterprise - Fame FM’, including Imad Jomaa, Chairman of J Group, who acquired 5,000 shares from Walid Faddoul, initially the General Manager of the station. J Group is a regional holding of 38 companies, located throughout the Middle East, United Kingdom, and the United States. The group is active in various industries, including media, sports, and real estate, among others. Promofix, Promomedia, Hawacom, U Magazine, and Ekaruna, are among the companies under Jomaa’s group.
Sofie Boutros, sister of artist Julia Boutros has acquired 5,000 shares from Amal Ghali. Hala Bou Saab, sister of the Minister of Education and Higher Education, Elias Bou Saab, acquired 5,000 shares from Talal Ghali.

Hassan Hussein Khalil has purchased 3,952 shares in the Voice of the People radio station from Adib Nehme.

Reported by Rana Freifer
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Date Posted: Sep 04, 2014