With Qatar’s increased global prominence following its hosting of the 2022 FIFA World Cup, domestic media companies are continuing to expand their international footprint. In the past, these entities have spearheaded the acquisition of renowned international media brands. Notably, Al Jazeera Media Network, a pioneering Qatari media outlet and the first independent news channel in the Arab world, ventured into the international market by acquiring US-based Current TV for $500m in 2013. Qatar’s state-owned beIN Media Group, a global network focusing on sports and entertainment, made two major acquisitions in 2016. First, it purchased 100% ownership of US-based Miramax, an independent film and TV studio company. Additionally, beIN Media Group made a $1bn acquisition of Digiturk, Turkey’s prominent provider of digital pay TV services.
Diversification
Qatar’s media companies have expanded their interests beyond traditional media into sports and entertainment, aided by the acquisitions of sports teams and events by other entities. The prominence of Qatar’s media companies in global sports is showcased by beIN Sports securing the exclusive broadcasting rights for the 2022 FIFA World Cup across 24 countries in MENA. Qatar Sports Investment (QSI), a strategic private investment entity established in 2004, has a focus on acquiring established and emerging sports assets worldwide. There are clear synergies between beIN Media Group and QSI, with both entities chaired by Nasser Al Khelaifi – who is seen as a pioneering force behind Qatar’s global expansion in the media, sports and entertainment landscape.
QSI has made significant strides in European football, notably with its acquisition of French club Paris Saint-Germain (PSG) in 2011 from US private equity firm Colony Capital. Initially holding a majority stake, QSI became the sole owner the following year. In December 2023 QSI sold a 12.5% stake in PSG to US-based private investment firm Arctos Partners, valuating the club at $4.3bn-4.6bn. In 2022 QSI also acquired a 21.7% stake in Sporting Clube de Braga, one of Portugal’s premier football clubs.
The investment entity’s portfolio has since expanded and diversified. This includes its 2023 agreement, alongside the International Padel Federation, with Damm – the owner of Setpoint Events. The agreement outlined QSI’s acquisition of the World Padel Tour, organised by Setpoint Events, to form a unified global professional padel tour. This tour, Premier Padel, began its season in February 2024. In 2022 beIN Sports secured the exclusive broadcasting rights for Premier Padel in 37 territories, and is expected to play a major role in growing global interest in this fast-emerging sport.
Elsewhere, in July 2023 the Qatar Investment Authority, the national sovereign wealth fund, acquired a 5% stake in Monumental Sports and Entertainment, the owner of the National Basketball Association’s Washington Wizards – marking the first time a sovereign investment fund has co-owned a US sports franchise. This $200m investment bolstered the valuation of Monumental Sports to around $4bn, whose assets include the National Hockey League’s Washington Capitals and Capital One Arena. This landmark deal underscores the growing trend of institutional investment in the sports segment, with private equity firms, family offices and sovereign wealth funds increasingly participating.
Rationale
Qatar’s media companies have achieved sustained international growth, primarily through strategic investment in sports and entertainment, and diversifying its interests beyond traditional media. Through investment in global sports and entertainment, Qatar is impacting the future landscape of these segments, creating new avenues for growth and influence, and reinforcing its role as a key player in the sports and entertainment arenas.
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