OSN Streaming Offers $10 Million to Acquire Remaining Shares of Anghami

OSN Streaming has proposed to acquire all remaining ordinary shares of Anghami, the Middle East’s leading music streaming platform, for $3.39 per share, according to a report from TechCrunch. The deal, which would value Anghami at over $10 million, marks a significant consolidation in the region’s digital entertainment sector.

What is the financial structure of the offer?

The offer, disclosed in a filing with the UAE’s Securities and Exchange Authority, values Anghami’s outstanding shares at $3.39 each. OSN, a Dubai-based media conglomerate, currently holds a majority stake in Anghami but aims to fully integrate the platform under its ownership. The transaction is subject to regulatory approval and shareholder consent, as outlined in a statement from OSN’s parent company, Orbitz Media Group.

Why is this acquisition significant?

The proposed merger follows Anghami’s 2021 acquisition by OSN, which initially purchased a 51% stake for $15 million. The new offer reflects growing interest in consolidating regional digital assets amid increased competition from global platforms like Spotify and Apple Music. According to a 2023 report by Magna Global, the Middle East’s streaming market is projected to grow by 12% annually, driven by rising smartphone penetration and youth demographics.

What are the potential implications for the market?

The acquisition could strengthen OSN’s dominance in the region’s media landscape, combining its broadcast and on-demand services with Anghami’s music library. Analysts at Arabesque Research note that such consolidations often lead to enhanced content curation and subscription bundling strategies. However, regulatory scrutiny remains a key hurdle, as antitrust authorities may assess the deal’s impact on market competition.

How does this compare to similar deals in the region?

This move mirrors Saudi Arabia’s recent $2 billion acquisition of a majority stake in a local streaming service, aimed at bolstering homegrown digital infrastructure. Unlike that deal, OSN’s offer for Anghami is structured as a buyout of minority shares rather than a full takeover. Industry observers suggest the approach allows OSN to maintain flexibility while securing control of a key asset in the Middle East’s evolving media ecosystem.

What happens next?

OSN has set a 45-day window for Anghami’s shareholders to accept the offer, with a final decision expected by mid-November. If approved, the integration could streamline operations and expand OSN’s reach across audio and video content. A spokesperson for Anghami stated the company “remains committed to its users and will cooperate fully with the process,” according to a Reuters report.