Media groups join Delta Partners in Karoui & Karoui

Dubai-based technology, media and telecoms advisory firm, Delta Partners, has announced a major investment in its portfolio company Karoui & Karoui World by media groups Mediaset and La Quinta Communications.

Karoui & Karoui World will retain 50 per cent ownership of its television station Nessma TV, with Mediaset, owned by Italian prime minister Silvio Berlusconi and La Quinta Communications, owned by Franco-Tunisian media tycoon Tarak Ben Ammar, each owning 25 per cent.

Delta Partners invested in Karoui & Karoui nine months ago and since then has worked closely with the management team to define a long-term business plan and strategy for each of the company’s business units including a solid corporate governance model. Managing partner at Delta Partners, Victor Font, said Nessma TV represented a unique platform that broke down national boundaries of the countries of the Maghreb and offered advertisers an alternative medium to reach viewers.

“The partnership with Mediaset and La Quinta will bring Nessma TV to a completely different level, being able to compete for market share across the Arab world and target Maghrebian customers in European markets,” Font stated.