Egypt’s major private TV networks and competitors CBC and Al-Nahar will terminate their merger due to differences in vision and management policies, CBC owner Future Media and Telecommunications Group said on Monday.
According to the media group's statement, the networks plan to completely end their merger in TV channels and media companies.
CBC and Al-Nahar, two of Egypt’s largest private TV networks, announced their decision to merge in May 2016, citing a desire to expand the reach of the networks outside the country.
“Achieving the goals of the merger has become impossible due to the differences in those visions,” Future Media's statement read.
The statement added that businessman Mohamed Al-Amin would be appointed as chairman of Future Media, CBC TV network and ANA News agency, while Waleed El-Essawy would serve as his deputy.
Both Al-Nahar and CBC launched shortly after Egypt's January 2011 uprising.
Al-Nahar, which launched in June 2011. comprised Al-Nahar Sports, Al-Nahar Drama which broadcasts TV series and soap operas, and Al-Nahar Al-Youm news and entertainment channel .
CBC started broadcasting in July 2011 with a single channel. It has since expanded to CBC Sofra, a channel dedicated to cooking shows, CBC Drama, which broadcasts soap operas and TV series, and CBC Extra that features additional talk shows and entertainment.