Eros Media World Enters Saudi Arabian Market Through Strategic Partnership With Arabia Pictures Group; Terms Not Disclosed
Eros Media World PLC ("ErosMedia", "Eros" or the "Company") (NYSE:EMWP), a global Indian media and entertainment company, today announced that it is entering into the rapidly growing Saudi Arabian market to capitalize on new opportunities and identify synergies with the various Saudi Arabian government initiatives designed to foster growth in the media and entertainment sector. One of the driving forces behind the growth initiative is the General Entertainment Authority (GEA), which was established by the government of Saudi Arabia in 2016 to help drive Vision 2030, a strategic framework to move away from Saudi Arabia's dependence on oil to diversify its economy and develop public service sectors such as health, education, infrastructure, recreation, media, and tourism. Eros will partner in Vision 2030 and will be the first media company of Indian origin to explore actionable opportunities.