Incorporation
The company was created in June 2007 by Law No 13 of 2007 as a joint stock company (wholly owned by the government of Abu Dhabi) from the assets of Emirates Media Incorporated. The law was passed to permit more comprehensive mass media development in the emirate. The emirate's leaders also wished to reposition Abu Dhabi as a cultural hub of the Middle East, and focus attention on Abu Dhabi as the capital of the United Arab Emirates. Decision No. 32, issued by Mohammad Bin Zayed Al Nahyan (Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces), formed the five-member board of directors, which include Sheikh Al Nahyan, Mohammad Khalaf Al Mazroui (chair of the board), Ahmad Ali Al Sayegh (deputy chairman), Mohammad Omar Abdullah, Mubarak Hamad Al Muhairi, and Abdullah Musleh Al Ahbabi. The company's initial capitalization was Dh100 million (about $27.3 million in inflation-adjusted 2009 U.S. dollars). Riyad al-Mubarak was named the company's chief executive officer.
Read more about this topic: Abu Dhabi Media