United Group, Syria’s largest media group, has report an increase in revenues and profits in the first half of this year , although the company has dramatically shrunk in the last four years.
The American administration is amending its sanctions regime to allow some transactions in, and with, the Syrian publishing sector.
After several years of steep decline, United Group, Syria’s largest media group, managed to stabilize its operational performance.
Syria’s publishers are increasingly choosing to publish abroad because of the deteriorating security conditions in the country.
For the first time since the beginning of the Syrian uprising, United Group, Syria’s largest media conglomerate, managed in the first of half of this year to stabilize its revenue stream.
In a surprising move, Cinema City, a multiplex cinema theatre based in Damascus, announced that it was reopening its doors, a year after its closure.
One of Syria’s state-owned press groups is reportedly planning to issue a daily newspaper to cover Tartous local news.
The National Information Council is obliging all news websites to obtain a formal license as a prerequisite to continue publishing.
Syrian state-owned dailies have cut down the number of their pages as the government request a cut in costs.
United Group, Syria’s largest media group, saw a drop of 50 percent in its revenues last year according to preliminary filings.
The decline in Syria’s advertising market is continuing to take its toll on Syria’s largest media group which has seen its revenues drop by more than 90 percent in two years.
The Syrian President has named new members for the National Information Council, which formally acts as the regulator of the Syrian media industry.
Cinema City, the landmark multiplex cinema theatre located in central Damascus, which symbolized Syria’s shift towards a consumer society, has closed its doors.
United Group, Syria’s largest media group, saw a massive drop in revenues last year over the contraction of the advertising market.
Syria’s last remaining English-language print magazine has suspended publication as worsening economic and security conditions continue to take their toll on the media industry.
Taxation in Syria
Damascus Chamber of Commerce
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