Naguib Sawiris eyes Euronews control
February 27, 2015
Euronews is set to sell a €35 million majority stake to Naguib Sawiris.
Established in 1993 by the European Broadcasting Union (EBU), Euronews is currently owned by 21 public television channels and 3 local authorities.
Available in 13 languages it provides rolling coverage of world news produced by 600 journalists from over 30 countries. “Throughout the past decade, Euronews has truly become a bridge between nations. On the basis of its European perspective, the channel has attracted increasing interest from countries neighbouring the European Union. This makes Euronews unique.” commented Michael Peters, chair of the supervisory board. “Today we want to accelerate our growth. The arrival of Naguib Sawiris would be a tremendous asset to Euronews, as this investment would allow a quick implementation of our development plan, while maintaining our European public mission heritage.”
A politically active Egyptian who champions democracy and secularism, Naguib Sawiris leads the diverse Orascom family group which includes hotels, construction and telecoms.