Warner Bros. invests $57 million in OSN+ for minority stake
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. Discovery is taking a minority stake in Dubai-based OSN Streaming Ltd. in a bid to capture a slice of the fast-growing Middle Eastern entertainment market.
Warner Bros. will pay $57 million for about a third of OSN Streaming, Joe Kawkabani, chief executive officer of parent OSN Group, said in an interview.
The transaction will be done in stages and is still subject to regulatory approvals, according to a joint statement. OSN provides global and local TV series and films, and the unit Warner Bros. is investing in offers streaming services.
The deal will see both firms invest in locally produced content as they seek to court regional viewers, as well as explore synergies, according to Kawkabani.
'Whether it's a production of content, or expanding our content library, or creating better content, this is really the angle of the deal,' Kawkabani said.
The investment cements a series of partnerships between both firms. 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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Bawaba
19 minutes ago
- Al Bawaba
Participants from six Arab countries complete sustainability training with prestigious institutions
Sixty students from six Arab countries have completed PepsiCo and the PepsiCo Foundation's Youth Impact Studio (YIS), a flagship program aimed at nurturing a new generation of sustainability leaders across the Middle East and North from more than 800 applicants, the students, from Egypt, Iraq, Jordan, Lebanon, Saudi Arabia and the UAE, completed an intensive training program focused on sustainable development and Environmental, Social, and Governance (ESG) principles. Courses were delivered in partnership with the University of California, Berkeley, and other global graduates were honored in a series of events held across the six participating countries, culminating in a final ceremony in Jordan. Each event featured panel discussions with sustainability leaders and recognized the achievements of the students.'As a company deeply rooted in the region, we believe in the power of young people to shape a better future,' said Wael Ismail, Vice President of MENAPAK & International Beverages at PepsiCo. 'We are inspired by the determination and fresh ideas of the participants. It pushes us to keep doing more to support and empower youth.'The YIS program provides students with access to global experts, workshops on climate action, AI and innovation for sustainability, and professional development courses leading to ESG certifications.'As we work to help the next generation of leaders gain the skills, confidence and support they need to thrive, I am eager to see what our 60 trailblazing graduates will bring to their communities. We believe the training our students have undergone and the rich experiences they have gained will be invaluable in fueling innovation and impact,' said Hatim Khan, Senior Director of International Programs at the PepsiCo Foundation. 'And the journey doesn't end here as we will continue to support these leaders through mentorship and networking opportunities.'Anas, a graduate of the training program from Saudi Arabia, commented: 'It's not often you get to meet such a group of experts and trainers. We had insightful discussions, and I learnt a lot about bringing sustainability practices into my work. It was a truly enriching and unique experience that will help me to contribute positively to the future.' Another graduate, Lobna from Egypt, said: 'It felt inspiring to be surrounded by innovators. The atmosphere was energizing and highly motivating with trainers pushing us to think outside-the-box. The opportunity has been incredibly valuable, especially as the mentorship and guidance will continue. I'm ready to contribute and help build a better future for my region.'
Al Bawaba
19 minutes ago
- Al Bawaba
DIB Marks 50 Years of Progress with Prizes Worth AED 10 Million for Customers
In celebration of its Golden Jubilee, DIB - the largest Islamic bank in the UAE, announced the launch of its massive rewards campaign Fiesta 50, giving away up to AED 10 million in prizes. Open to both current and new customers, the campaign is DIB's way of expressing heartfelt gratitude to the millions who have supported its journey over the past five decades and an invitation to join the bank as it enters the next chapter of its remarkable progress – one that never until the end of 2025, Fiesta 50 promises to be one of the most thrilling customer reward campaigns in the UAE, with 50 lucky winners selected every month from four distinct prize categories. At the heart of each month's draw is a spectacular Grand Prize of up to AED 250,000, offering customers the chance to win 10 times their account balance or foreign exchange transaction Fiesta 50, DIB is turning its anniversary into a collective celebration of success. This initiative honours the trust and loyalty that customers have shown over the years, offering rewards that truly reflect the bank's gratitude. As part of this exciting campaign, DIB customers will get the chance to be one of the 50 winners every month selected for special prizes that include:• One-Month Salary – 20 individual customers earning a minimum monthly salary of AED 5,000 will qualify to win one month's salary, up to AED 60,000.• Free Airline Tickets – 17 individual or business customers, maintaining a balance of AED 10,000 or have conducted a foreign exchange transaction for the same value, will be awarded airline tickets worth up to AED 30,000.• Finance Instalments / Card Balances – 12 individual customers will win finance instalments or card balances up to AED 14,000.• Grand Prize – One individual or business customer per month will win 10X of their account balance or Foreign Exchange transaction value up to AED 250, engaging in relationships such as Salary Transfers, individual or Business Current or Savings accounts, or financing products including Personal, Auto, Home Finance and Covered Cards will automatically qualify for these exciting monthly on the campaign, Sanjay Malhotra, Chief Consumer Banking Officer at DIB, said: 'Fifty years ago, we set out to build more than just a bank, we built a movement. One rooted in faith, trust, and progress. Today, Fiesta 50 is our way of turning that gratitude into action, thanking our customers for being an integral part of this inspiring journey. Whether you have been with us for decades or just joined DIB family, this is your time to grow, gain, and be part of what comes next —because at DIB, Progress Never Stops.''Our Golden Jubilee is a moment of pride not just for the bank, but for our entire community. As we look ahead, we remain committed to delivering meaningful, innovative and rewarding banking experiences — empowering our customers to be part of a future where progress continues' Mr. Malhotra added. The Fiesta 50 campaign builds on the momentum of DIB's 50th anniversary celebrations, including the unveiling of its bold new corporate brand identity anchored in the promise: 'Progress Never Stops.' Since its inception, DIB has helped shape the global Islamic finance landscape, serving today over 5 million customers across seven markets with assets exceeding AED 355 billion.
Al Bawaba
an hour ago
- Al Bawaba
S&P and Moody's Upgrade Emaar's Credit Ratings, Citing Strong Financial Performance and Robust Revenue Visibility
Emaar Properties PJSC (DFM: EMAAR), one of the world's most valuable and respected real estate development companies, has announced that both S&P Global Ratings and Moody's Ratings have upgraded the company's long-term issuer credit ratings, reinforcing Emaar's position as a financially resilient and strategically agile market leader. S&P Global Ratings upgraded its long-term issuer credit rating to BBB+ from BBB, with a stable outlook, while Moody's upgraded Emaar's long-term issuer rating to Baa1 from Baa2, also with a stable outlook. These upgrades reflect Emaar's robust financial fundamentals, consistent performance, and sound strategic direction. The same S&P and Moody's rating upgrade has been applied to Emaar's senior unsecured debt. Strong Financial Position and Strategic Execution As of March 2025, Emaar reported a revenue backlog of approximately AED 127 billion (US$ 34.6 billion), providing strong revenue and cash flow visibility through 2028. The company's recurring income portfolio continues to expand, supported by disciplined execution, resilient operations, and diversified income streams. S&P's upgrade was driven by Emaar's record-high backlog of AED 110 billion (US$ 29.9 billion) as of December 2024, and healthy presales in the UAE of AED 65.4 billion (US$ 17.8 billion) during 2024, alongside a net cash position, low leverage, and strong adjusted EBITDA margins. Moody's highlighted significant reduction in adjusted debt of Emaar from 2020 to March 2025 and the drop in debt to equity ratio over the same period. Commenting on the announcements, Mohamed Alabbar, Founder of Emaar, said: "We are proud to receive this recognition from both S&P and Moody's, which underscores the strength of our strategy, the quality of our assets, and the discipline we maintain in financial management. These upgrades reflect not only our performance, but also the confidence in Dubai's economy and real estate market. We will continue to pursue sustainable growth, innovation, and value creation for our shareholders and stakeholders alike." Liquidity and Resilience Emaar reported an interest coverage ratio of approximately 24 times for the twelve months ending March 2025 and holds AED 25.4 billion (US$ 6.9 billion) in cash (excluding escrow balances), along with AED 7.4 billion (US$ 2 billion) in undrawn committed credit facilities, providing ample liquidity and financial flexibility. S&P noted that Emaar's strong mall, hospitality, and entertainment operations, in addition to the resilience of its real estate development business, contributed to the rating action. Dubai Mall, for instance, recorded over 111 million visitors in 2024, with overall mall portfolio occupancy of 98.5%, showcasing the strength of Emaar's recurring income-generating assets. Outlook Both agencies issued a stable outlook, reflecting their expectation that Emaar will maintain solid credit metrics, strong liquidity, and continued operational performance. These dual upgrades reinforce Emaar's reputation as a leading player in the global real estate sector, anchored in a dynamic and fast-growing market.
