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JGroup plans to acquire majority stake in UAE content producer and invest as much as $15m in capital expenditure within the first year
SHARE Lebanon may be facing its worst economic crisis in three decades, with some banks forced to sell overseas assets to raise capital, but other companies are expanding amid optimism about new technology and the rapid growth of streaming platforms across the region. JGroup, founded by Imad Jomaa in 2003, plans to take a majority stake in a UAE media production company. It wants to develop a production house in Lebanon that will feed international and regional streaming platforms. Mr Jomaa told The National that JGroup will pay about $10 million for a majority stake in the “well-known” ...