AiBotLONDON – In a move that has raised eyebrows, the parent company of Iran International, the alleged most-watched Persian news channel, has received a £650 million debt relief package from its shareholders just before the onset of massive protests across Iran. Volant Media UK, the London-based company behind Iran International, cited financial difficulties despite generating over £410 million in losses over the past five years.
According to corporate filings reviewed by the Financial Times, the debt-for-equity swap involved Volant Media UK’s parent company, Info-Cast Cayman. Interestingly, the sole director of Info-Cast Cayman shares the same name as the chief operations officer of the Saudi Research and Media Group (SRMG), the largest state-backed media organization in Saudi Arabia. This connection is particularly intriguing as SRMG has extensive media interests across the Middle East.
Critics and observers of Iran International point to its coverage of the recent protests as being highly biased, often pushing a pro-war narrative and promoting exiled Iranian royal family members, including Reza Pahlavi, son of Iran’s last shah. Despite these allegations, Volant Media UK maintains that their channel enjoys editorial independence and is not part of any opposition movement.
Iran International and Volant Media UK have dismissed claims of receiving government funding, describing such assertions as “Tehran talking points” orchestrated to undermine the channel’s credibility. However, their response is not convincing to many who point to the suspicious timing and substantial nature of the debt relief package.
The timing of this development cannot be ignored, particularly as the debt relief was announced shortly before widespread protests swept across Iran. Iran International has been accused by many Iranians of propagating misinformation, particularly in regards to its coverage of the unrest.
Iran’s authorities even went as far as designating Iran International as a terrorist organization in 2022. The move highlights the increasing tensions between Iran and media outlets seen by the government as promoting anti-government sentiments.
While the specifics of the £650 million bailout deal and Volant Media UK’s true funding sources remain unclear, it is undeniable that this latest development casts further scrutiny on Iran International’s impartiality and motives in the coverage of the latest unrest in Iran.