Warner Music invests in Saudi Arabia's Rotana Music, Middle East's biggest label

The deal will see Warner Music distribute Rotana Music's releases globally

  
Light trails from automobile traffic traveling along the King Fahd highway, left, and Olaya Street, right, in Riyadh, Saudi Arabia. Image used for illustrative purpose.

Light trails from automobile traffic traveling along the King Fahd highway, left, and Olaya Street, right, in Riyadh, Saudi Arabia. Image used for illustrative purpose.

Getty Images/Simon Dawson/Bloomberg

DUBAI - 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.

(Reporting by Yousef Saba; Editing by Christopher Cushing) ((Yousef.Saba@thomsonreuters.com; +971562166204))

More From Business