Warner Bros. Discovery acquires 30% stake in OSN Streaming for $57 million

Warner Bros. Discovery (WBD) has announced a strategic investment in OSN Streaming, acquiring a 30% minority stake in the MENA-based platform for a reported $57 million. The deal underscores WBD’s commitment to the region’s fast-evolving digital entertainment market.

The transaction will be carried out in stages and remains subject to customary conditions, including regulatory approvals.

Over the past few years, OSN transformed its digital offering through strategic partnerships—most notably securing exclusive rights to HBO content in 2022—and expanding its footprint with a majority acquisition of Anghami in April 2024.

Sheikha Dana Naser Sabah Al Ahmad Al Sabah, Group CEO of KIPCO and Chairperson of OSN, described the deal as a major milestone. “We are delighted to announce this partnership, which reflects the importance WBD places on collaborating with the best creative talents, employing advanced technologies, and building partnerships that support long-term growth,” she said.

This affirms the success of KIPCO’s strategy to focus on and strengthen our streaming business in an increasingly competitive landscape.

Jamie Cooke, Executive Vice President and Managing Director for Central Europe, Turkey, and the Middle East at Warner Bros. Discovery, echoed the sentiment.

OSN has been a strong partner and custodian of our content, making this partnership a natural next step,” Cooke said. “While our global hits remain popular, we recognise the growing demand for local stories that reflect the region’s culture and identity. Through this deal, OSN and WBD will jointly invest in premium, locally produced content, delivering a richer and more diverse experience for viewers.

Joe Kawkabani, CEO of OSN Group, welcomed the investment as a catalyst for further growth and innovation. “With WBD as a strategic partner, we gain access to unparalleled industry expertise and a globally recognized portfolio of entertainment brands. This deal marks a key milestone in our journey and reinforces our commitment to expanding local content production and reaching audiences well beyond the MENA region.”

For Warner Bros. Discovery, this investment is part of a broader strategy to deepen its presence in key global markets. With nearly 117 million subscribers across its Max and Discovery+ platforms, the company sees the Middle East as a critical region for growth. Since opening its regional office in Dubai in 2012, WBD has steadily expanded its operations and distribution footprint across the GCC and wider MENA region.