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KUWAIT CITY - Kuwait Projects Company (Holding) K.S.C.P. (KIPCO) has announced a strategic partnership in which Warner Bros. Discovery (NASDAQ:WBD) will acquire a 30% minority stake in OSN Streaming Ltd., a subsidiary of the OSN Group and part of KIPCO’s portfolio, for USD 57 million. The investment underscores WBD’s commitment to the Middle East & North Africa (MENA) region’s streaming market.
The partnership aims to enhance the production of high-quality, locally produced content, diversifying the offerings for viewers in the region. The transaction is set to proceed in stages, contingent upon regulatory approvals and standard conditions. It also provides WBD with the optionality to adjust its investment level in the future under certain conditions.
Although the investment does not have an immediate material financial impact on KIPCO’s financial statements, it is considered a significant step in OSN’s expansion and in KIPCO’s strategy to bolster OSN Group’s standing as a leading entertainment provider in the MENA market.
This development forms part of a broader trend in the global entertainment industry, where streaming services are increasingly investing in regional content to capture diverse audiences. The transaction is based on a press release statement from KIPCO.
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