News

Report: WMG mulling investment in Saudi firm Rotana Music


Tags:

Rotana Music is the Saudi-owned music firm whose parent company bought a stake in streaming service Deezer last year – resulting in an exclusive for Deezer on Rotana’s catalogue in the Middle East.

Now Warner Music Group is “in talks to buy a large minority stake” in Rotana Music, according to the Wall Street Journal. It pegs the potential investment as “worth at least tens of millions of dollars”, as part of WMG’s wider expansion into the Middle East region.

There are some interesting connections swirling around this: WMG’s owner Access Industries is also a significant shareholder in Deezer, alongside Rotana. However, the WSJ story also pointed out some of the current complications for western companies doing business with entities owned by members of the Saudi royal family, following the murder of journalist Jamal Khashoggi last year.

Stuart Dredge

Read More: News
Leave a Reply

(All fields required)