Mashreq and Al Hilal Bank: one card fits allJuly 29, 2015 3:08
Saudi radio consortium awarded fifth FM license
Shams Radio Consortium’s SAR60 million bid wins it the license.
March 29, 2010 10:58 by kippreport
Shams Radio Consortium won Saudi Arabia’s fifth FM radio license on Saturday, following a SAR60 million bid.
The KSA government has received a total of SAR331.5 million for issuing five FM radio licenses.
Riyadh Najm, undersecretary for engineering affairs and supervisor of organizing audiovisual media at the Ministry of Culture and Information, said the five radio stations would start airing programs in Riyadh, Jeddah and Dammam in six months.
“They will later cover 160 cities across the Kingdom,” Najm said. He said a number of consortiums had competed for the fifth license.
“Shams made the highest offer of SAR54.99 million, which was below the minimum ceiling of SAR60 million. The license was awarded after the consortium agreed to raise the offer,” he said.