Prince Al Waleed Bin Talal

The 'political problem' at LBC

Wed, 2008-11-19 07:27 - By
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RapidTVNews reports that a 'political' problem is brewing at LBC. Earlier this year, Samir Geagea, leader of the Lebanese Forces, demanded that Pierre Daher, CEO and founder, surrender ownership of the TV station back to the Lebanese Forces political party. Later in the year Prince Al Waleed Bin Talal, increased his shareholding in the station and now owns 60% of LBC.

Here's the historic background of this story. Some 10 years into the Lebanese civil war (1975-1990) a TV station was formed by Bashir Gemayel, then leader of the Lebanese Forces, and reflecting the mostly Maronite Christian position during the fierce sectarian battles then taking place in the country. Now, LBC has battles of its own. Gemayel was later assassinated.  Gemayel’s co-founder was Pierre Daher. LBC has since grown to be a very major player on the pan-Arab TV scene with Daher supervising expansion onto satellite (1997), and overseas into the US, Australia and Asia. Now the channel is enveloped in another bitter battle, with the station accused of having abandoned its heritage.

Complicating the issue is the fact that the satellite channel was initially backed (49%) by Sheikh Salah Kamel (best known for his ownership of Arab Radio & Television, ART). In December 2003 that portion was acquired by Saudi billionaire Prince Alwaleed bin Talal who has since further consolidated his investment into the business.

The Lebanese Forces (LF) has now issued a fresh statement clearly attacking Pierre Daher. "The news of the LF is subject to scandalous neglect from the LBC," the LF media statement said, noting that the LBC "has not allowed LF figures to take part in political news shows for a long time." The claim continued: “And here a question is raised. Why is LBC ignoring the news and opinions of the LF?"

The statement also criticized Daher directly, saying his "attitude is that of a militia because he sold most of LBC's shares without consulting anyone, earning him a lot of money." Daher had earlier said that LBC would under no circumstances serve a single party's purposes. The news station "refuses to be a mouthpiece of any political party," he said.

Nevertheless, there’s still a lawsuit rumbling through the Lebanese courts claiming ownership by the Lebanese Forces. LBC has also changed its shareholder structure, and in recent years, Prince Alwaleed bin Talal, through his media company Rotana, has acquired a great number of the network’s corporate shares which if nothing else complicates matters hugely.


Prince Al Waleed Bin Talal acquires 85% of LBC

Mon, 2008-07-07 07:22 - By
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Rapid TV News reports that Saudi billionaire Prince Al Waleed bin Talal has increased his ownership stake in pan-Arab satellite channel LBC. Local reports say Prince Al Waleed now controls 85% of the operation and its partner PAC.

LBC Group’s capital now stands at $123m. LBC is run by its chairman and DG Pierre Daher, who in a statement said the capital increase would strengthen the financial capacity, competitiveness and productivity of the channel.  "This step comes within a comprehensive plan of 5 years, and includes all television channels affiliated to Rotana," which is said to currently be the biggest producer and distributor of Arab music and increasingly movies.

Daher emphasized that there was no risk that PAC or LBCSAT would lose their Lebanese identity. The acquisition would also benefit the local LBC channel, he added, as all programmes produced are distributed to the local and international stations.


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