Warner Music invests in Rotana Music, Middle East's biggest label
Warner Music Group has invested in Rotana Music, the Middle East's largest record label owned by Saudi Arabia's billionaire Prince Alwaleed bin Talal, Warner said in a statement. In 2018, Prince Alwaleed invested $267 million in French music streaming service Deezer via Rotana Group and his investment company Kingdom Holding.
- Country:
- United Arab Emirates
Warner Music Group has invested in Rotana Music, the Middle East's largest record label owned by Saudi Arabia's billionaire Prince Alwaleed bin Talal, Warner said in a statement. The value of the transaction was not disclosed.
The deal will see Warner Music distribute Rotana Music's releases globally. Signed to Rotana are some of the biggest music stars in the Arab world, including Saudi Arabia's Mohamed Abdo, Egypt's Amr Diab and Lebanon's Elissa. In 2018, Prince Alwaleed invested $267 million in French music streaming service Deezer via Rotana Group and his investment company Kingdom Holding. Rotana and Deezer also signed a long-term agreement to distribute Rotana's audio and video content in the Middle East and North Africa.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
- READ MORE ON:
- Arab
- Lebanon
- North Africa
- Saudi Arabia's
- Middle East
- French
- Warner
- Egypt
ALSO READ
Lufthansa suspends Tehran flights, Middle East on alert for potential Iran attacks
US envoy asked Middle East foreign ministers to mediate with Iran
Lufthansa suspends Tehran flights, Middle East on alert for potential Iran attacks
Middle East on alert for Iranian attack as Lufthansa suspends Tehran flights
Russia tells citizens: refrain from travel to the Middle East