Warner Bros. Discovery (WBD) has announced a strategic minority investment in OSN Streaming Ltd., a subsidiary of OSN Group (OSN). This move reinforces WBD’s commitment to the fast-growing MENA streaming market, solidifying its regional footprint. The transaction, which will be completed in phases, remains subject to regulatory approvals and customary conditions.
Expanding Market Leadership in MENA Streaming
OSN has established itself as a leading player in the region’s streaming industry, continuously evolving its offerings through strategic partnerships. Notably, the company secured an exclusive deal with HBO in 2022 and, more recently, acquired a majority stake in Anghami Inc. in April 2024.
Commenting on the investment, Sheikha Dana Naser Sabah Al Ahmad Al Sabah, Group CEO of KIPCO and Chairperson of OSN, emphasized the significance of the partnership:
“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 the 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.”
Strengthening Local and Global Content Offerings
WBD, a global entertainment powerhouse, sees this investment as a natural extension of its long-standing partnership with OSN. Jamie Cooke, Executive Vice President & Managing Director for Central Europe, Turkey, and the Middle East at WBD, highlighted the shared vision between the two companies:
“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 recognize 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.”
OSN’s CEO, Joe Kawkabani, also welcomed WBD’s investment, calling it a “significant milestone” in the company’s growth journey:
“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.”
WBD’s Long-Term Commitment to the MENA Region
WBD’s investment underscores its strategy of leveraging partnerships, advancing technology, and collaborating with top creative talent to drive growth in the entertainment industry. The company continues to expand its global streaming footprint, with its combined Max and Discovery+ subscriber base reaching nearly 117 million.
Since establishing its regional office in Dubai in 2012, WBD has steadily strengthened its presence in the MENA market, bringing world-class entertainment to audiences across the region. This latest partnership with OSN is expected to further enhance the availability of premium international and locally produced content.
Advisors on the Transaction
Kamco Investment Company K.S.C and Skadden, Arps, Slate, Meagher & Flom LLP (Abu Dhabi office) advised OSN Group on the deal, while A&O Shearman acted as WBD’s legal advisor.
