Warner Bros Discovery takes stake in Middle East’s OSN Streaming

The deal, reportedly worth $57m for a 30% stake, sees Warner Bros Discovery grow its footprint in the Middle East streaming landscape. The transaction will be completed in stages and is subject to regulatory approvals.

OSN has a number of long-term partnerships with global entertainment players, including an exclusive deal with HBO that was struck in 2022. OSN Group acquired a majority stake in Arab music streaming platform Anghami in April 2024.

WBD’s latest investment in the region follows its acquisition of Turkish streaming service BluTV in 2023.

Regional firms such as OSN as well as Abu Dhabi-based Starzplay and Saudi broadcaster MBC Group are competing with international rivals such as Netflix and Prime Video for local audiences.

As part of the deal, Warner Bros Discovery and OSN said they would invest more in “quality, locally produced content, ensuring a richer and more diverse offering for viewers.”

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 union partnership a natural step for WBD.”

Sheikha Dana Naser Sabah Al Ahmad Al Sabah, Group Chief Executive Officer of OSN parent company KIPCO, and Chairperson of OSN, said: “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.”