Bloomberg is partnering with one of the Mideast’s biggest publishing groups, Saudi Research and Marketing Group (SRMG), to launch an Arabic-language edition of the business publication in the region, as well as a television and radio network.
“The Middle East is an important, economically diverse region, and our agreement with SRMG allows us to deliver the sharpest global business and financial insights to a critical audience of business decision makers,” stated former New York City mayor and founder of Bloomberg L.P., Michael R. Bloomberg.
Bloomberg announced its plans to expand in the region last April.
Called Bloomberg Al Arabiya, the multiplatform deal means the publisher of Asharq Al-Awsat, Arab News and Aleqtisadiah will produce a 24/7 television and radio network and digital platform with Bloomberg.
Though Bloomberg already has Bloomberg TV running out of its Dubai-based studio and production crew in English, this partnership with SRMG means a new Arabic-language offering will be produced as well.
The two companies will also launch a conference and live events series, and publish an Arabic-language version of Bloomberg Businessweek magazine.
Content in Bloomberg Al Arabiya will be a mix of Bloomberg content translated into Arabic, as well as local content from the editorial staff in the Mideast.
“The idea of Bloomberg Al Arabiya is to select from the original Bloomberg resource what should be appealing to our viewership and readership in the Middle East, together with our local content,” Mohammad Alomar, managing director of Saudi Specialized Publishing Company (SSPC), a subsidiary of SRMG, told Publishers Daily.
Bloomberg Al Arabiya will be headquartered in Riyadh, Saudi Arabia, as well as in the UAE, where SRMG has many affiliates and subsidiaries operating out of Dubai.
Alomar said the company is also planning on having a “strong presence” in Jeddah and Dammam in Saudi Arabia, and in Abu Dhabi in the UAE.
Bloomberg first started covering the Middle East in the mid-1990s. It now has 10 bureaus across the region, with nearly 70 editors and reporters.
Bloomberg isn’t the only publisher to push into the Mideast recently.
Condé Nast launched Vogue Arabiathis year, Billboard signed a deal with CPLG to license its brand in the Mideast and Africa (EMEA) in June and Vice Media was reportedly in talks this spring to build a production and editorial studio in the UAE.