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Sunday, 15 May 2016

Are Al Hayat and ONTV up for sale?

Al Hayat and ONTV channels are apparently being sold soon to unknown businessmen with no ties to the media establishment, according to Al Mal. Officials from both stations have been tight-lipped about the sale, with Ehab Saleh, Chairman of O Media (ON TV’s parent company) and Station Chief Amr Rizk refusing to comment on the sale. Rizk did hint to Al Mal reporters that negotiations are concluding soon and that “all will be revealed in due time.” Declining ad revenues appear to be behind the sale, and Al Hayat’s failure to acquire the Al Qaysar soap opera had reduced its chances to effectively compete for ratings during the Ramadan season. Sources from Al Hayat tell Al Mal that they have no knowledge of an impending sale and that these could be rumors. In the murky politics of Egyptian broadcast media, we’re taking the reports with a grain of salt.

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