Last week, Al-Jazeera America began broadcasting to almost 50mn US households following its purchase of Current TV, a cable channel, from partners who included former US Vice President Al Gore for a reported $500mn. State-controlled Al-Jazeera’s stated aim is to be the world’s foremost-recognized media company. It reinforces Qatar Airways and Qatar Foundation’s establishing Qatar as a global brand through sponsorship and advertising.
But the bulk of Qatar’s prestige spending spree is led by the Qatar Investment Authority (QIA). Qatar’s new Amir, Tamim bin Hamad Al Thani, appointed Ahmad al-Sayyid as the new CEO of QIA in June. Any change in investment strategy has yet to be seen – M&A deals take time. (CONTINUED - 1701 WORDS)