Foreign investment in printed media has been liberalised in 2019, subject to the condition of nominating a Saudi managing director approved by the Ministry.
"The Cabinet [...] Decides:
Delete the list of services subject to the system of publications and publishing mentioned in paragraph (7 / b) of item (First) of the Supreme Economic Council (Canceled) No. (1-28) date 5-3-1428 AH. [...]" (Cabinet Resolution No. (105) dated 2-2-1441 AH deleting the list of services subject to the system of publications and publishing mentioned in paragraph (7 / b) of item first from the list of types of activity excluded for foreign investment issued by the Supreme Economic Council’s decision (canceled) No. (1/28) and the date 3/5/1428 A) 
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"The Cabinet [...] Decides:
Amendment to Paragraph (A / 1) of Article (Fifth) of the Printing and Publishing System - Including the conditions for licensing to practice activities subject to the system - issued by Royal Decree No. (M / 32) and the date of 3/9-1421 AH, as amended by Royal Decree No. (M / 20) And the date of 11/4/1433 AH, to be in the following text:
“He must be a Saudi national, and it is permissible - by a decision of the Board of Directors of the General Investment Authority - to exclude any of the activities mentioned in Article (second) of the system from this condition.”
A draft royal decree has been prepared accordingly, accompanying this. [...] (Resolution No. (104) dated 2-2-1441 AH to amend paragraph (A / 1) of Article (5) of the Press and Publications System) 
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"[...] 3. Controls Presses Representation Office
Any printing press may open one or more duty-free offices as an outlet for the marketing of tis products after the approval of the Ministry, according to the following: 
To nominate a Saudi director for Approval by the Minister [...]" (Investor Guide For Media Licenses, 2019)
Cabinet Resolution No. (105) dated 2-2-1441 AH [2-10-2019]
Cabinet Resolution No. (104) dated 2-2-1441 AH [2-10-2019]
Investor Guide For Media Licenses, 2019
[<a href="https://www.uqn.gov.sa/articles/1570645928775170300/">Resolution</a>],[<a href="https://www.uqn.gov.sa/articles/1570645311125160600/">Resolution</a>],[<a href="https://lcsys.gov.sa/img/daleel-en-v2.pdf">Guide</a>]