OSN Group has taken a majority share in the Arab online music portal Anghami after receiving regulatory approval.
The DTH/OTT operator is investing $38 million to hold 55 per cent in the new company, based on a valauation at market closure on March 28.
“The combined entity brings together OSN+’s premium and exclusive library of 18,000 hours of video content with Anghami’s catalog of more than 100 million songs and podcasts,” the company said in a statement. “It will benefit from Anghami’s strong tech stack, delivering an enhanced streaming experience with AI-driven hyper-personalization and soon to be announced best-in-class products.”
Anghami co-founder and CTO Elie Habib will lead the merged company as CEO, while Joe Kawkabani will remain as OSN Group CEO.
The combined offer will offer subscribers in the Middle East and North Africa premium movies, TV shows, music, podcasts in a single seamless experience.
