A change of tack for the international ambitions of NBC. The company, a subsidiary of Universal Studios, has sold the 25% stake it bought in Euronews two years ago. Their stake has been bought by Media Globe Networks, who now own 88% of the equity.
Media Globe Networks is owned by the Sawiris family, of Egypt. Onsi Sawiris set up cement, engineering and construction company Orascom in 1950, and now it trades in 25 countries. His three sons are still active, and Naguib's interests include MGN. Brother Nassef took a controlling stake in Aston Villa in 2018.
NBC presumably needs the funds to concentrate on the delayed launch of NBC Sky World News; the Covid-19 outbreak has halted work on new facilities at Osterley, and the 50 hacks already hired are working on 'other output'.
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