Leading global electronics company Sony Corp. has signed a contract with the Al Jazeera Media Network to develop infrastructure and studio technologies as part of a larger plan to expand in the region.
Shoji Nemoto, vice president of Sony, announced the $160 million deal during a visit to Qatar this week.
Nemoto’s visit is presumably to drum up more business for the company, which recently posted a second-quarter loss of some $200 million, raising questions about a recovery plan it has been pursuing to stay in the black.
Speaking to Doha News, the corporate executive officer said:
“Al Jazeera is… one of the biggest TV broadcasters in the world and we are ready to support and upgrade their system to give the best content – not only to Qatar, but globally.”
Sony has a regional office in Dubai and has supplied equipment to the Middle East since 1992. They have previously worked with other news organizations in the region, including Oman TV and the Iraqi Media Network.
“I have seen a lot of opportunities to create some new businesses in Qatar, especially in (the) media industry,” Nemoto said during a visit to Northwestern University in Qatar on Thursday. He added that he also hopes to develop programs that help media students gain global experience.
Additionally, Sony is about to announce an educational program in collaboration with Northwestern University in Qatar to train and prepare future media experts.
“I’m thinking about how to contribute to the media industries, especially regarding younger generations, to derive talented people. We are thinking about how to convey the experience cross-continent, and we can bring talented students to the US to see how movies are created and exchange ideas.”
Note: This article has been corrected to reflect that Nemoto did not meet the Emir during his Qatar visit.