- Jordan-based Sowt Media has acquired UAE-based podcast production company Finyal Media for an undisclosed amount, financed by the US Media Development Investment Fund (MDIF).
- Founded in 2016 by Hazem Zureiqat, Sowt is a digital audio media company producing podcasts, audiobooks, and audio articles focusing on Arabic-speaking audiences. Finyal was founded in 2019 by Leila Hamadeh, Majid Al Qassimi and Mshari Alonaizy and has produced some Arabic podcast fiction and branded content.
- The acquisition will enhance Sowt’s content, audience and commercial opportunities.
Today Sowt Media announces the acquisition of Finyal Media, a Dubai-based and award-winning podcast production company, marking a substantial push forward for Sowt’s content, audience and commercial opportunities.
“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 produced some of the best Arabic podcast fiction and branded content. Their leading 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.
Leila Hamadeh, Finyal’s 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 providing the news, information and debate that people need to build free, thriving societies. For more than 25 years, MDIF has invested capital and advisory services to help scores of media organizations build robust businesses.
“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."