(MENAFN - Arab News) Prince Alwaleed bin Talal, chairman of Rotana Holding, chaired Rotana's board of directors meeting.
The meeting was attended by Walid Arab Hashem, vice chairman, Fahad Alsukait, CEO, Rotana Group, and Nada Alsugair, the newly appointed Rotana board member and executive director, finance and administration, Prince Alwaleed's Private Office. The board member and representative from News Corporation was Gary Davy (conference call). In addition, the meeting was attended by Charlotte Burr, head of strategy and development, Asia Pac, News Corp., John Ireland, CFO Rotana Group, and James Ward, chief legal officer and general counsel.
During the meeting, the board members discussed Rotana's 2012 achievements. The board commended Rotana Group for these achievements. Moreover, the board reviewed and discussed 2013 strategic plans, the operating and financial budget, and referred to the latest developments of Rotana. In addition, Nada Alsugair has been appointed as a board member in Rotana Group.
Prince Alwaleed said: "I reaffirm my full support to Rotana and its management. I am happy with 2012 achievements and look forward to higher achievements in the years to come."
Moreover, Newscorp owns 19 percent stake in Rotana. News Corporation acquired previously 14.53 percent stake in Rotana. Rotana, which is majority owned by Prince Alwaleed, operates one of the largest TV networks and ad sales operations in the region and owns the largest Arabic film library. It has also built the leading record label in the Middle East, managing many of the most popular artists in the region and controlling the biggest Arabic music catalog.