CAIRO – 29 May 2021: The United Media Services (UMS) Company will hold a press conference on Saturday to speak about its achievements and future plans and a new change to its structure.
In a statement issued last week, the company denied media malicious rumors concerning the change of its leadership due to “corruption accusations,” affirming that the company will take all necessary legal measures against those who spread such baseless rumors.
Media outlets affiliated with the banned group of the Muslim Brotherhood claimed such rumors. Their trolls made use of these rumors against the UMS.
Egyptian T.V. host Amr Adeeb revealed in his talk show “El Hekaya” on MBC Masr channel on Friday evening that the conference will announce the Chief Executive Officer of the Arab African International Bank Hassan Allam as the new chairperson of the company.
Adeeb clarified that the state over the past few years bought a number of media and entertainment institutions that were not making profits and had losses to make an “empire of media production” that has a message.
Adeeb added that the state already started to develop this industry but was made in a kind of monopoly. However, he continued that the state allowed to prevent such monopoly gradually via opening the market for more company. “There will not be only one company for production. The market will be open,” Adeeb said.
“The state has taken an initial decision to list this major company on the Egyptian Stock Exchange (EGX) to be owned by the Egyptians,” he continued.
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