Sowt Media has announced the acquisition of Finyal Media, a Dubai-based podcast production company, marking its aim to push forward for more content, audience and commercial opportunities.
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“This acquisition marks a big step for the audio industry in MENA and for Sowt. We’re excited about the potential growth that joining forces with Finyal provides listeners,” Ramsey G. Tesdell, CEO, Sowt Media, said. “We are proud of what Sowt has accomplished and are excited about what the future holds.”
“Finyal Media has produces Arabic podcast fiction and branded content. Their most popular podcasts – 1001 Nights, Juha, Sindibad, Al Silah, and The Basement – reach millions of people and will support Sowt’s push for audience growth, commercial opportunities, and creative content,” said Sowt in a release.
Leila Hamadeh, Finyal co-founder & CEO, said, “We are thrilled that Finyal Media has been acquired by Sowt and that our content will continue to grow to reach millions of listeners across the region. We believe this acquisition marks a major milestone in the development of the MENA podcast industry and expect to see further growth and consolidation in the future. We are very proud of all the work that has gone into creating Finyal Media’s award-winning podcasts and we see strong a fit for our shows within Sowt’s incredible portfolio of content.”
The acquisition was financed by Media Development Investment Fund (MDIF) and Sowt Media. MDIF invests in independent media around the world.
“Sowt is a clear leader in the Arabic-language podcast space, producing original, high-quality content, and we are a long-term admirer of their work,” said Bilal Randeree, MDIF program director for Africa and MENA.
“Sowt has assembled a young and talented team, bringing together backgrounds and skills that allow them to continuously innovate and experiment in this sector, and we are looking forward to working with the company as it continues to expand its work.”
