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KUWAIT CITY - Kuwait Projects Company (Holding) K.S.C.P. (KIPCO) has announced a strategic minority investment by Warner Bros. Discovery (NASDAQ:WBD) in OSN Streaming Ltd., a subsidiary of OSN Group, which is under KIPCO’s portfolio. The investment, amounting to approximately USD 57 million, will give WBD around a 30% stake in the streaming service, underscoring WBD’s commitment to the Middle East & North Africa (MENA) region’s burgeoning streaming market.
The partnership aims to bolster the production of high-quality, locally produced content, promising a richer and more varied experience for viewers across the region. The transaction is structured to occur in multiple phases, contingent upon standard conditions, regulatory approvals, and provisions that allow WBD to adjust its stake under certain circumstances.
Although this investment does not immediately affect KIPCO’s financial statements, it represents a significant step in OSN’s development and KIPCO’s strategy to fortify the OSN Group. This move is expected to enhance OSN’s status as a leading entertainment platform in the MENA region.
The information in this article is based on a press release statement from Kuwait Projects Company Sukuk Limited.
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