LONDON: Alamiya has announced the acquisition of Lyra Pictures in the latest expansion into the cinema and media industry by the Saudi entertainment company.
The newly formed partnership, which has been labeled as “transformative,” marks a significant step toward the development of film production in the region.
Sultan Al-Muheisen, chairman and CEO of Alamiya, said that the acquisition was more than just a business deal as it allowed Alamiya to combine its resources and long-standing expertise with Lyra Pictures’ innovative film development strategies.
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