State-Run Newspaper Akhbar Al Youm to Take Over Daily News Egypt

Daily News Egypt, Egypt’s only daily independent newspaper, to be taken by state-run newspaper Akhbar Al Youm.

Earlier in December 2016, the government committee froze assets of Mostafa Sakr, chairman of Business News, for alleged ‘Brotherhood connections’.

Sakr owns the English-language newspaper Daily News Egypt and the Arabic-language Boursa News.

The company denied belonging to any political group or affiliation in a reaction statement to the asset freeze, adding that it took legal measures against the committee’s decision.

“Our notebooks are open and our assets are clear and they have just one source, our advertisement, and subscriptions,” Sakr told Reuters.

Business News is a media company established in 2008 and is the copyright owner for Al-Borsa, a daily economic newspaper, and Daily News Egypt.