Media Trends Executive

Media Trends

Axios Media Trends

Media Deals

American news outlets are looking to the Middle East for investment and new audiences amid dwindling U.S. ad dollars. 

Why it matters: The U.S. has historically failed to force news companies to register as foreign agents when they are funded by nation-states, meaning there's little downside for newsrooms that want to raise cash from sovereign wealth funds. 

Zoom in: The best example of that has been the Justice Department's yearslong failure to force AJ+, a U.S.-based digital arm of the Al Jazeera Media Network, to register as a foreign agent acting on behalf of Qatar. 

The Justice Department ordered the outlet to register as a foreign agent in September 2020. It has yet to enforce compliance, and faces continued pressure from advocacy groups to do so. 

Raising any foreign capital should also prompt investigations by the Committee on Foreign Investment in the United States (CFIUS). But so long as those investments are structured below CFIUS' threshold for foreign control — even for news companies — the government typically doesn't apply much scrutiny. 

State of play: Newsrooms were hesitant to invest in Middle East expansions following the murder of journalist Jamal Khashoggi, but have since warmed up to the idea of accepting advertiser dollars and hosting events in other Gulf states outside of Saudi Arabia. 

CNN recently announced its new show "CNN Creators" will be anchored in Doha, Qatar. 

The show is part of a multiplatform initiative of digital-native journalists covering stories about AI, tech, art, culture, sport and social trends, the company said.

"Qatar has grown in importance as a cultural, business and sporting hub in recent years," said CNN's senior vice president of international programming Meara Erdozain. "The airport is among the world's most connected, with flights to around 170 destinations, so it's also a great stepping-off point for travel."

Follow the money: For news outlets facing a challenging ad market, the Middle East provides a critical new opportunity. 

Reuters brought its flagship leadership summit, Reuters NEXT, to Abu Dhabi in October. It also launched a new Arabic website catered to readers in the Gulf as part of a broader expansion in the region with an eye on advertising opportunities. 

The Wall Street Journal's Tech Live conference last year had a record 13 sponsors, three of which came from the Middle East. The company expanded its Tech Live franchise to Doha, hosting its first event there this past week.

Semafor Gulf launched last year with partners that included First Abu Dhabi Bank, G42, Mubadala and Invest Qatar.

The big picture: Taking on foreign money through advertising or sponsorship tends to be much less risky than raising foreign funds, but increasingly, news organizations are becoming comfortable with the idea. 

Penske Media Corporation, an events and Hollywood news company,  raised $200 million in 2018 from the Saudi Research and Marketing Group, which has close ties to the government, before Khashoggi's murder, but has not commented on its involvement since. 

Newsmax, the conservative cable company, raised around $50 million from the Qatari royal family in 2019 and 2020. 

RedBird IMI, the joint venture between the investment firm RedBird Capital Partners and Abu Dhabi's International Media Investments, has invested in several media businesses, including Front Office Sports, a sports business news outlet.

The Messenger, a short-lived American digital publication, also counted IMI as a minority investor. The news outlet acquired Grid, another short-lived digital publication, funded by IMI.

Bloomberg and Vice have struck commercial partnerships with firms in the region.

Tycoons in the Global East have sought U.S. news companies, eager to exploit the brand equity made possible by the West's strong free speech principles.

Fortune was bought by Thai businessman Chatchaval Jiaravanon for $150 million in 2018.

The Financial Times was sold to Japanese media giant Nikkei for $1.3 billion in 2015.

Forbes was bought by a Hong Kong-based investment group called  Integrated Whale Media in 2014.

Between the lines: Commercial deals and fundraising efforts aren't supposed to hamper editorial decisions, but foreign governments tend to apply more pressure on news companies to censor content. 

The Guardian reported in 2023 that Vice has "repeatedly blocked news stories that could offend the Saudi government" amid its partnership with the Saudi-backed MBC Group.

Erdozain said CNN's partnership in Qatar is limited to facilities and technical support and there is "absolutely no compromise to our editorial production or output. It is completely independent and always would be."

Zoom out: Other countries apply much more scrutiny to foreign investments.

RedBird IMI withdrew its bid for the U.K.'s Telegraph and Spectator after months of regulatory scrutiny and negotiations. The company acquired the broadsheets in 2023, but then the government banned foreign investment in U.K. newspapers.

"That was a learning curve," RedBird Capital founder Gerry Cardinale said onstage at Axios BFD Summit last month. "I'd say that it just got too political, too politicized, and we really just couldn't get any transparency on the regulatory approval process."

Earlier this year, the U.K. changed the rules to allow foreign investors to own a 15% stake. 

What to watch: The U.S. Federal Communications Commission has rules that mandate radio and television broadcasters disclose foreign-sponsored programming.

The FCC this year took additional steps this year to expand those rules, giving broadcasters a compliance deadline of Monday.

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U.S. newsrooms eye the Gulf

News outlets have warmed up to the idea of accepting ad dollars and hosting events in Gulf states.

Illustration of a reporter's microphone with a globe for the top

Dealmaking

Media

American <a class="gtmContentClick" data-vars-link-text="news outlets" data-vars-click-url="https://www.axios.com/2025/11/08/local-news-funding-public-media-global" data-vars-content-id="4e4c5676-11e7-4e15-a3c3-2ae53351405f" data-vars-headline="U.S. newsrooms eye the Gulf" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2025/11/08/local-news-funding-public-media-global" target="_self">news outlets</a> are looking to the Middle East for investment and new audiences amid dwindling U.S. ad dollars. Why it matters: The U.S. has historically failed to force news companies to register as foreign agents when they are funded by nation-states, meaning there&#x27;s little downside for newsrooms that want to raise cash from sovereign wealth funds.

U.S. newsrooms eye the Gulf

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