The strategic partnership will include investing in high-quality locally crafted content.
Warner Bros. Discovery (WBD) has announced a strategic minority investment in OSN Streaming Ltd., a subsidiary of OSN Group, reinforcing its commitment to the rapidly evolving streaming landscape in the Middle East and North Africa (MENA). The transaction will be completed in phases, pending customary regulatory approvals.
Joe Kawkabani, CEO of OSN Group, stated in an interview with Bloomberg that Warner Bros. will invest $57m for approximately one-third of OSN Streaming.
This investment builds on OSN’s growth trajectory in MENA’s streaming industry, strengthening its competitive position as one of the region’s premier entertainment destinations. OSN has continued to evolve its offering, securing long-term partnerships with major global players, including its exclusive deal with HBO in 2022, and acquiring a majority stake in Anghami Inc. in April 2024.
Speaking about the collaboration, Jamie Cooke, Executive Vice President & Managing Director, Central Europe, Turkey and Middle East at Warner Bros. Discovery, 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 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, CEO of OSN Group, commented: “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.”
For WBD, this investment aligns with its broader strategy of partnering with top creative talent, adopting advanced technologies, and expanding its global footprint. With nearly 117m streaming subscribers across Max and Discovery+, the company continues to prioritise growth in key markets, including MENA. Since opening its regional office in Dubai in 2012, WBD has steadily expanded its presence, delivering world-class entertainment to audiences across the region.
The transaction was advised by Kamco Investment Company K.S.C and the Abu Dhabi office of Skadden, Arps, Slate, Meagher & Flom LLP for OSN Group, while A&O Shearman acted as the legal advisor for WBD.
