The News Corporation Acquires Stake in MOBY Group

The News Corporation and MOBY Group announced that they have reached an agreement under which News Corporation will become a minority investor in MOBY, a media company headquartered in Dubai and active in Central Asia, principally Afghanistan, and the Middle East. Under the terms of the agreement, News Corporation will contribute its 50% shareholding in Broadcast Middle East (BME), its Farsi-language TV joint venture with MOBY, for a minority shareholding in MOBY and will also provide growth capital to MOBY for its expansion plans. BME will become a wholly-owned subsidiary of MOBY following the investment. Through BME, News Corporation and MOBY have launched two successful Farsi-language channels, FARSI1 and Zemzemeh, reaching millions of Farsi speaking audiences across Central Asia and the Middle East. The agreement with News Corporation will enable MOBY to strengthen its leadership position across the regions in which it currently operates whilst working to expand its presence in new and emerging markets. MOBY will continue to be chaired by Saad Mohseni while Zaid Mohseni will continue to serve as Chief Executive Officer of BME.