Saudi Cable Company announces that its board of directors decided on Sunday, August 22, 1445, which is March 3, 2024, to withdraw the company's investments in Turkey. The investments may be sold or may be used in any other manner allowed by Turkish law. This decision was made after reviewing the company's plans and business strategy, holding discussions, and preparing the necessary studies. These businesses failed to turn a profit and kept losing money over the previous years, even after multiple administrations tried unsuccessfully to turn things around and strengthened the view of domestic and foreign legal counsel in favor of the decision to close,.
