$ 1 Billion Compensation for Piracy

October 1, 2018, the global media group beIN Corp. (beIN) launched an international investment judicature against the Kingdom of Saudi Arabia for damages of more than $ 1 billion. They claim that it was unlawfully removed from the Saudi market and specified as the most widespread piracy of sports broadcasts in the world.

This case is the only known investment arbitrage ever made in connection with illegal television piracy, which is further supported by a state, in this case Saudi Arabia.  Proceeding begins after the general public condemnation of the Saudi pirate television channel beoutQ, which has organized a scourge of television piracy on global sports broadcasts. The case has a political background.

In August, the General Office of Competition for Saudi Arabia canceled the beIN license for broadcasting in that country by imposing a fine of $ 2.6 million. (ns.)

Source: https://www.beinmediagroup.com/article/bein-launches-us1-billion-dollar-arbitration-against-saudi-arabia-as-legal-actions-intensify-following-beoutq-and-arabsat-mass-piracy-of-world-sport/