The Egyptian Media Group and D Media Group, owner of DMC Channels, have announced initiating a merger to form a strong Egyptian media entity. In a press release, the Egyptian Media Group said that with the ongoing circumstances of the current period impacting the economy, the media thus requires the establishment of a strong Egyptian media entity that can rise above the narrow competitiveness. The CEO of Egyptian Media Group, Hossam Salah, confirmed that he signed the merger agreement with Amr El-Feky, CEO of D Media. Amr El-Feky said that through the merger the group aims to make a breakthrough in media content by working to the highest international standards. The Egyptian Media Group recently announced a plan to offer its shares on the Egyptian Exchange.

Source: Daily News Egypt September 08, 2016 17:03 UTC