Morocco’s SNRT to Acquire 86% Stakes in Medi 1 Radio

Morocco’s capital market watchdog, the Competition Council announced that it has received a proposal from Morocco’s state-owned National Company of Radio and Television (SNRT) for the acquisition of 86.3% shares of the capital and voting rights of Radio Mediterranee Internationale (RMI), also known as Medi 1 Radio.

Rabat – Morocco’s capital market watchdog, the Competition Council announced that it has received a proposal from Morocco’s state-owned National Company of Radio and Television (SNRT) for the acquisition of 86.3% shares of the capital and voting rights of Radio Mediterranee Internationale (RMI), also known as Medi 1 Radio.

In a statement released on Friday, the Council disclosed that the economic sectors affected by this takeover are the market for broadcasting radio programs and the market for advertising and sales. The acquisition is pending the approval of the council.

Medi 1 Radio is part of the Medi 1 TV company, which was first launched in 2006. Originally called Medi 1 Sat, the channel was jointly owned by public Moroccan and French investors and broadcast exclusively on satellite. Its programming focused mainly on news related to Morocco and the Maghreb.

In 2009, the French investors sold their shares to the Moroccan state-owned financial institution Caisse de dépôt et de gestion (CDG), making Medi 1 TV entirely Moroccan-owned. Abbas Azzouzi was appointed CEO in 2010, succeeding its founder Pierre Casalta, who had previously directed its sister network Medi 1 Radio.

In October of the same year, Medi 1 Sat changed its name to Medi 1 TV and introduced a new generalist schedule Arabic, French, and English languages, covering a range of topics from news and current affairs to entertainment and cultural events. The channel is an important player in the media landscape of North Africa and the Middle East.