Subsidiary of Research and Media Signs Framework Agreement with Thmanyah for Media and Advertising Representation Services

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Saudi Research and Media Group announced that SRMG Media Solutions (a subsidiary of Saudi Research and Media Group) signed a framework agreement with Thmanyah Publishing and Distribution (a subsidiary of Al Arabiya for Media, wholly owned by Saudi Research and Media Group) to provide media and advertising representation services. In a statement on Tadawul, the company said the agreement is annual and renewable subject to mutual consent, noting that it does not include a specific financial value, as SRMG Media Solutions will receive commissions for advertising representation services according to the agreed-upon ratios and mechanisms, and the contract value is expected to exceed 1% of revenues according to the latest reviewed annual financial statements. It added that under this agreement, SRMG Media Solutions will provide advertising representation services to Thmanyah Publishing and Distribution, including marketing and selling advertising opportunities and spaces, attracting advertisers, and managing related commercial relationships, in exchange for commissions calculated according to the agreed-upon ratios between the parties. The group confirms that this agreement was made on commercial terms and in the ordinary course of business without any preferential conditions.

It clarified that Thmanyah Publishing and Distribution is a related party, as it is a subsidiary of Al Arabiya for Media, wholly owned by Saudi Research and Media Group, and Jumana Al-Rashid, CEO and board member of Saudi Research and Media Group, chairs the board of Thmanyah Publishing and Distribution, with no interest in this transaction.

It stated that the agreement is not expected to have a material financial impact on the group's consolidated financial statements at present, and the resulting financial impact will be recognized according to the volume of business executed during the agreement period. It indicated that this agreement comes within the framework of both parties' strategy to enhance their presence in the advertising market, expand the customer base, and maximize the utilization of available business opportunities, thereby contributing to raising the efficiency of sales and marketing operations, enhancing the commercial value of advertising spaces, and achieving sustainable revenue growth through a strategic partnership based on cooperation, transparency, and mutual interests.

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