Egypt intelligence reaps huge profits from ‘media development’ | WHAT REALLY HAPPENED

Egypt intelligence reaps huge profits from ‘media development’

Egypt’s General Intelligence Service has earned around five billion Egyptian pounds (about $2.9 billion) from a recent consulting deal signed between the government and the Egyptian Media Group.

Well-informed sources at the country’s official Egyptian Radio and Television Union (ERTU) – also known as Maspero – reported the huge profits yesterday, telling the New Khaleej that the deal, which was signed late last month, was a “direct order by the Egyptian presidency in favour of the intelligence directorate, which owns the [Egyptian Media] group”.

Under the five-year agreement, the sources explained, Egyptian Media Group would implement plans to oversee 23 television stations and 76 radio stations, some of which would be merged and others which would be cancelled.

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