Music Business Worldwide
February 16, 2021
Syrian singer, George Wassouf, signed to Rotana.
Warner Music Group (WMG) has made an investment in Saudi Arabia’s Rotana Group-owned Rotana Music, which is claimed to be the largest record label in the Middle East.
The deal – believed to be an eight-figure acquisition for a minority stake – will expand WMG’s presence in the Middle East and North African (MENA) region.
On Tuesday January 26, citing people familiar with the matter, the
Wall Street Journal reported that WMG was close to sealing a deal for a minority stake in Rotana Music that would value the Saudi company “at close to $200 million”.