Al-Shorbagy Advocates for Investing in Institutional Assets to Sustain Journalism

The National Press Authority, headed by Abdel Sadeq Al-Shorbagi, focused on investing in the assets of state-owned media institutions to enhance the sustainability of their publications. Since taking office in 2020, the Authority has reinvested fixed assets dating back to the 1980s and 1990s, aiming to generate financial resources to cover the costs of the journalism industry and reduce the gap between revenues and expenses, as the primary goal of journalism is education, not profit. Necessary approvals have been obtained, and implementation procedures have begun, including the creation of asset databases and the formation of a dedicated committee to study investment options in coordination with the institutions. The institutions have successfully developed various projects, including adding faculties to their universities, establishing international schools, launching residential projects, commercial markets, and sports clubs. Additionally, bank loans have been scheduled for repayment and debts settled, all with the goal of maximizing the benefit from owned assets to support the ongoing sustainability of media operations.

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