Warner Bros. invests $57 million in OSN+ for minority stake
Summary
UAE-based entertainment streaming platform OSN+, a subsidiary of OSN Group, has raised $57 million from Warner Bros Discovery for an approximate 30% equity stake in the company. The deal will see both firms invest in locally produced content as they seek to court regional viewers. In December, OSN Group invested $55 million in Lebanon-founded music streaming app Anghami Inc.Warner Bros. OSN inked a multi-year licensing agreement with Warner Bros.-owned HBO in 2022 to exclusively broadcast and stream content from the American pay TV network. It also secured the exclusive rights to Warner Bros. film catalogue last year.I think now we can look into ways where we can expand that offering, Kawkabani said, adding that the new partnership would probably facilitate all of these discussions, but they would be done on separate commercial terms.