Warner Bros Discovery (WBD) has announced a “strategic minority investment” in Dubai’s OSN Streaming, a subsidiary of OSN Group. The transaction – reportedly valued at $57 million (€52.6m) for a 30 per cent stake – will be completed in stages and is subject to customary conditions, including regulatory approvals.

OSN has continued to evolve its streaming offering, securing long-term partnerships with a number of global players, including acquiring a majority stake in Anghami in April 2024. In May 2024, OSN agreed a deal with Warner Bros that gave it exclusive regional rights to all new content from Max Originals and first premiere rights to Warner Bros Pictures.

Commenting on the deal, Sheikha Dana Naser Sabah Al Ahmad Al Sabah, KIPCO’s Group Chief Executive Officer and Chairperson of OSN, said: “We are delighted to be announcing this deal between WBD and OSN, which reflects the importance that WBD places on working with the best creative talents, employing advanced technologies, and forging key partnerships that ensure continued growth, which is what OSN’s streaming business provides to the region’s viewers. This partnership affirms the success of strategy that KIPCO laid out to focus on and strengthen our streaming business, even in a competitive market environment. The transaction builds on OSN’s strong growth trajectory and market leadership in MENA’s streaming industry, strengthening its competitive position as one of the region’s premier entertainment destinations.”

Jamie Cooke, Executive Vice President & Managing Director, Central Europe, Turkey and Middle East at WBD, said: “It’s our goal to tell the greatest stories, whilst innovating our products and distribution channels. OSN has been a great partner and custodian of our content, making this union partnership a natural step for WBD. We recognise that alongside enjoying the latest global hits, regional audiences also want stories from and about the region that reflect their own cultures and experiences. Through this deal, we’re delighted to announce that both OSN and Warner Bros Discovery will invest in high-quality, locally produced content, ensuring a richer and more diverse offering for viewers.”

Joe Kawkabani (pictured), CEO of OSN Group, added: “We are thrilled to welcome WBD as a strategic partner. As a global leader in entertainment, WBD brings unparalleled expertise, innovation, and a rich portfolio of iconic brands. This investment is a significant milestone in OSN’s growth journey, reinforcing our dedication to delivering unique and compelling content. It also bolsters our commitment to expanding our investment in local content, broadening its reach beyond MENA to global audiences.”

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Categories: Articles, Business, M&A, OTT

Tags: MENA, osn, warner bros discovery, WBD