Warner Bros. Discovery (WBD) will buy a 30% share in Dubai-based OSN Streaming Limited to expand its presence in the Middle Eastern entertainment market. The deal, worth $57 million, will be completed in stages and is pending regulatory approval.
Jamie Cooke, WBD’s executive vice president and managing director of Central Europe, Turkey and the Middle East, said in a statement.“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,”.
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OSN Group CEO Joe Kawkabani added., “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, At the same time, WBD’s strategic investment reflects the company’s prioritization of working with the best creative talent, advancing technologies, and forging key partnerships to fuel continued growth, with global streaming subscribers across Max and Discovery+ now standing at nearly 117 million. It also underscores its sustained expansion in the MENA region, reinforcing its presence in one of the world’s most dynamic entertainment markets.”
The deal comes as WBD plans to reach 150 million global subscribers by the end of 2026 and expects its streaming business to make a profit of about $1.3 billion in 2025.
About OSN
OSN is the top entertainment company in the region, with broadcasting rights in 17 countries across the MENA. It is owned by Panther Media Group, registered in the Dubai International Financial Centre (DIFC), and has two shareholders: KIPCO and Mawarid Group Limited.
