Warner Bros. Discovery (WBD) has announced a strategic minority investment in OSN Streaming Ltd., a move aimed at strengthening its position in the Middle East and North Africa (MENA) region’s growing streaming market. The investment, which will be completed in stages pending regulatory approvals, highlights WBD’s commitment to the region’s entertainment sector.
This partnership builds upon OSN’s established market leadership and its strategy of forming alliances with global entertainment providers. Notably, OSN secured an exclusive agreement with HBO in 2022 and acquired a majority stake in Anghami Inc. in April 2024.
Jamie Cooke, Executive Vice President & Managing Director, Central Europe, Turkey and Middle East at Warner Bros. Discovery, emphasized the company’s objective to deliver compelling narratives and innovate distribution channels. He noted OSN’s role as a content partner, making the investment a logical progression. The partnership will also involve joint investments in locally produced content, catering to regional audiences.
Joe Kawkabani, CEO of OSN Group, welcomed WBD as a strategic partner, citing the company’s expertise and brand portfolio. He highlighted the investment’s significance in OSN’s growth and its commitment to delivering distinctive content. OSN will also use this new partnership to increase its local content creation.
WBD’s investment reflects its strategy of collaborating with creative talent and leveraging technology to drive growth. The company’s global streaming subscriber base, encompassing Max and Discovery+, is nearly 117 million. WBD has been expanding its presence in the MENA region since establishing its Dubai office in 2012.
The transaction involved Kamco Investment Company K.S.C and Skadden, Arps, Slate, Meagher & Flom LLP, advising OSN Group, and A&O Shearman, advising WBD.
