SOREAD

With a lengthy and hectic history, the SOREAD is the only public-private patrtnership media company in the country. It was, at the time of its creation, a fully private entity with the aim of editing and promoting the 2M TV channel. However, due to a poor performance and weak sales, the SOREAD and its TV channel the company was privatised in 1996. 

Although benefitting from a prime position in the national audiovisual market and attracting large amounts of advertising, allowing it to maintain high revenues, the company has showing deficits since 2008 - its revenue stemming at 93% from advertising in 2015. However, this is not enough to cover all of its expenses.

 

In 2014, the auditor addressed a letter to the President to inform him that since 2012, the net results are only at one quarter of the capital. This goes against the law that covers public companies however the situation has yet to be fixed.

 

The State owns 72% of this company through theMinistry of Economy and Finance. The rest of its capital Is split between the royal holding group SNI that owns 20%. SNI is also present indirectky through its bank Attijariwafa Bank, with 2% of the shares. At smaller shares, yet with important significance, we find FinanceCom, a company owned by magnate and billionaire Othman Benjelloun, at 1.24%

TF1/SYALIS SA, Syalis was a subsidiary company of the French media group TF1, owned in majority by the holding Bouygues. It was the company in charge of acquisitions and negotiation of audiovisual rights. Syalis is now TF1 International, 1%, VIDEOTRON, 0.84%

Others, 0.89%, CIMR, 0.77%

Societe Marocaine de Participation) [SOPAR], 0.47%

Al Amne/AXA, 0.47%

BMCI, 0.28%

Key facts

Business Form

Private/Public

Legal Form

Public company

Ownership

Ministry of Finance and Ministery of Economy

-

72%
Media Outlets
Other Media Outlets

Other TV Outlets

2M

Other Radio Outlets

Radio 2M

Facts

General Information

Founding Year

1987

Founder

Omnium Nord Africain [ONA]

Affiliated Interests Founder

The ONA group was was established in 1934 and dissolved in 2010 and succeeded by Societe Nationale d’Investissement [SNI]. ONA was an industrial, financial and services conglomerate. With a long history of changes in ownership structure, the ONA group, founded in 1919 under the name ‘Compagnie Générale de Transport et de Tourisme’ by Jean Épinat.
In 1934, the CGTT was rebranded into Omnium Nord Africain [ONA]. During the same year, the ONA became a holding as it entered the mining sector.

Employees

700

Contact

Km 7.3, Route de Rabat

Aïn Sebaâ, 20250

Casablanca, Morocco

Tax/ ID Number

51305

Financial Information

Revenue (Financial Data/ Optional)

65

Operating Profit (in Mill. $)

0.297

Advertising (in % of total funding)

MD

Further Information

Data Publicly Available

ownership data is easily available from other sources, e. g. public registries etc.

2 ♥

Meta Data

2015 Numbers for Revenue and Operating Profit.

Last capital division update dates back to 2009.

  • Project by
    Le Desk
  •  
    Reporters without borders
  • Funded by
    BMZ