LONDON: UAE-based conglomerate Al Habtoor Group said Tuesday it will open its new TV channel in Beirut in an effort to shake up the Lebanese media landscape.

In a statement revealing new details about the group’s first foray into broadcasting, the Emirati channel said it “promises to offer extensive job opportunities and serve as a beacon of positivity in the media landscape.”

The channel will initially create about 300 jobs in fields including journalism, production and art, with additional jobs expected to be added as the project expands.

“We chose Lebanon specifically as the headquarters for our new television channel, aiming to create job opportunities for the Lebanese people, especially the youth, and to contribute to enhancing the economic and social conditions of our people in Lebanon,” explained Khalaf Ahmad Al Habtoor, founding chairman of Al Habtoor Group, on X.

Al Habtoor revealed that discussions were held with Lebanese Prime Minister Najib Mikati, who pledged to provide support and facilitation for the project.

اخترنا #لبنان بالتحديد دوناً عن غيره من الدول كمقر لقناتنا التلفزيونية الجديدة، بهدف خلق فرص عمل للشعب اللبناني وتشغيل الشباب والشابات، والمساهمة في تعزيز الظروف الاقتصادية والاجتماعية لأهلنا في لبنان. وهذا واجبي تجاه أهلي هناك، حتى إن لم أحقق أرباحاً أو استفادة مالية مجزية.… https://t.co/l4IpBFRgiN

— Khalaf Ahmad Al Habtoor (@KhalafAlHabtoor) May 1, 2024

The company also unveiled plans for a new 100,000-square-meter studio city, aimed at establishing a vibrant hub for film and TV production.

In April, Al Habtoor Group announced its entry into the broadcasting industry with the launch of a new television channel dedicated to “spreading positivity.”

According to the chairman, the new channel will focus on “highlighting successes and good news around the world” to ultimately make people “happier and more productive.”

Operating in the UAE and international markets, Al Habtoor has a presence across various cities around the world, including London, Vienna, Budapest, Beirut, and Springfield in the state of Illinois, US.

It has businesses in multiple sectors including hospitality, automotive, real estate, education, insurance, and publishing.

Set to launch later this year, the new venture is more than just broadcasting, Al Habtoor said.

“Our commitment is not only to establish a channel but also to foster a thriving media environment for professionals,” said the Lebanese entrepreneur.

“We are dedicated to empowering the local workforce and contributing positively to Lebanon’s economic revival.”

LONDON: Abu Dhabi-backed RedBird IMI on Tuesday said it would sell the Telegraph after it scrapped its acquisition of the right-leaning newspaper group because government intervention meant the deal was “no longer feasible.”
RedBird IMI effectively took control of the Telegraph and the Spectator magazine in December when it repaid a debt owed by then-owner the Barclay family to Lloyds Bank, including a 600 million pound ($753 million) loan against the titles.
But the acquisition, which already faced a lengthy regulatory inquiry, was dealt a blow last month when Britain said it would stop foreign governments owning newspapers.
“RedBird IMI has today confirmed that it intends to withdraw from its proposed acquisition of the Telegraph Media Group and proceed with a sale,” a RedBird IMI spokesperson said.
“We have held constructive conversations with the government about ensuring a smooth and orderly sale for both titles.”
RedBird IMI, led by former CNN executive Jeff Zucker, is backed by Mansour bin Zayed Al Nahyan, a member of Abu Dhabi’s ruling family and the owner of Manchester City soccer club.
The government issued a notice in December stopping RedBird IMI transferring ownership of the newspaper or changing its management and board while it investigated the deal.
Culture Secretary Lucy Frazer said on Tuesday she would now allow RedBird IMI to conduct an orderly sale of the titles after it had signalled its intention to withdraw.
“Throughout this process I have raised concerns about the potential impact of this deal on free expression and accurate presentation of news, and I took steps to ensure that media freedom was protected while there was an investigation into those concerns,” she said.
RedBird IMI said its focus was on securing the best price for the titles, which are close to the ruling Conservatives.
Parties previously interested in the assets include hedge fund boss Paul Marshall, Daily Mail owner DMGT as well as private equity buyers.