"SRMG" stocks jump by 8.8% after a company has won the rights to transfer Saudi Soccer Tournaments

The share of the “Saudi Research and Media Group” (SRMG) increased by 8.8%at the beginning of Sunday’s session. The increase came after the announcement of the victory of its subsidiary, “Eight for publication and distribution”, owned by 51%, to the exclusive transport rights of Saudi soccer tournaments. The rights include the Rosen Professional League, the keeper of the Two Holy Mosques Cup, the Saudi Super Cup and the Yellow League for first classes, throughout the Middle East and North Africa, from the 2026/2025 season to the end of the 2031/2030 season. This increase in the part of the company, which owns Al -Sharq News, is the highest since July 7, 2024, where it is currently trading at the level of 154 Riyals. This positive performance of the share comes at a time when the market is under great pressure, as the Saudi Market Index “Tassi” opened today’s session with a sharp decline of 3.8%, influenced by the escalation of geopolitical tension and the outbreak of the war between Israel and Iran.