Warner Bros. Discovery (WBD) has announced a minority investment in OSN Streaming Ltd., a subsidiary of OSN Group, as announced in a joint statement on Monday. This strategic partnership comes in line with WBD’s plan to expand its presence in the rapidly growing streaming market in the Middle East and North Africa (MENA) region. The investment, which will be completed in stages, is still subject to regulatory approvals.
OSN Group is a premium entertainment network in the MENA region, featuring exclusive content across various platforms like OSN+, OSNtv, and Anghami, offering a mix of global and local hit series and films.
As per the statement, this deal builds on OSN’s leadership in the MENA streaming industry and solidifies its position as a key player in the region. OSN has continued to grow its offerings, including a long-term exclusive partnership with HBO and a majority stake acquisition in Anghami Inc. in 2024.
Jamie Cooke, Executive VP & Managing Director of Central Europe, Turkey, and the Middle East at Warner Bros. Discovery, shared: “We’re excited to deepen our partnership with OSN. We aim to provide regional audiences with both global hits and locally crafted content that reflects their cultures and experiences.” Both companies will invest in creating high-quality local content to enhance their offerings in the region.
Warner Bros. Discovery operates in over 220 countries and territories, offering an extensive portfolio of iconic brands, including Max, CNN, HBO, TNT, and Discovery Channel.
Joe Kawkabani, CEO of OSN Group, welcomed WBD’s partnership, emphasizing that it would boost OSN’s growth while reinforcing its focus on locally produced content. He highlighted OSN’s ambition to expand its content’s reach to global audiences.
This partnership comes as Warner Bros. Discovery continues its expansion in the MENA region, with streaming services like Max and Discovery+ amassing nearly 117 million subscribers globally. The partnership underlines the company’s strategy of working with top creative talent and advancing technology in key regions like MENA.
The deal’s advisors included Kamco Investment Company and Skadden Arps for OSN, and A&O Shearman for WBD.