Report: Warner Music Group To Buy Minority Stake In Rotana Music

To Buy Minority Stake In Rotana Music

It has long been reported that WARNER MUSIC GROUP wanted a stake in SAUDI ARABIA’s ROTANA MUSIC, the largest record label in the MIDDLE EAST. THE WALL STREET JOURNAL is reporting that WMG is close to acquiring a minor stake in the label valuing the SAUDI company "at close to $200 million."

THE ROTANA GROUP is a media empire established by the SAUDI PRINCE AL-WALEED BIN TALAL in 1987 

In addition to ROTANA RECORDS, the group owns a film production company (ROTANA STUDIOS), a magazine (ROTANA MAGAZINE), a television channel (ROTANA TV), seven music radio channels (ROTANA RADIO) and a hotel management company (ROTANA HOTELS).

WARNER MUSIC GROUP, owned by LEN BLAVATNIK's ACCESS INDUSTRIES, is also a majority owner of FRENCH streaming company DEEZER, whose investors include ROTANA GROUP. 

The WSJ adds that negotiations between WMG and ROTANA “are in late stages and could result in board approval as early as this week,” however, “the deal could still fall apart."

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