Prince Alwaleed bin Talal's Kingdom Holding has completed a 1 billion Saudi riyal ($266.7 million) deal to buy newly issued shares in the French music streaming service Deezer, the company said in a statement on Thursday.
Shares in Deezer will be bought through Kingdom Holding and Rotana Group, a Saudi-based entertainment company wholly owned by the Saudi billionaire which produces a series of channels covering music, cinema, religion, news and drama.
The statement did not provide any further details on the stake or the number of shares acquired.
Rotana and Deezer also signed an exclusive long-term agreement to distribute Rotana's popular audio and video content in the Middle East and North Africa.
'The investment of Kingdom Holding and Rotana Group in Deezer represents one of the many premium investments that we have always sought for our shareholders,' the statement quoted Prince Alwaleed as saying.
'The signing of this distribution agreement will move Rotana to the international arena.'
Alwaleed has investments in a number of international companies including Citigroup Inc and Twitter.
- Paris-based music streaming service Deezer has responded to a growing online furore among fans of the popular Lebanese singer Elissa. On Wednesday, Elissa tweeted to her 13.4M followers that her online content was blocked thanks to her record label, Rotana, signing a new deal with Deezer to stream its content.
- In 2018, Prince Alwaleed's Kingdom Holding Company and Rotana.
Rotana Drama Vimeo Channel
Deezer has launched for markets in the Middle East and North Africa. The rollout comes on the back of an exclusive deal with the Rotana Group, which has the rights to a large library of Middle Eastern music. Deezer is offering its new users six months of its Premium tier for free. Dbeaver ce mongodb net. The service has tailored its platform for the new listeners, with an option to set Arabic as the language preference and curated playlists such as PopTop Arab, Rapstars Maghreb United and Shaabi Essentials.
Rotana Drama
Shares in Deezer will be bought through Kingdom Holding and Rotana Group, a Saudi-based entertainment company wholly owned by the Saudi billionaire which produces a.
'We are really excited to bring Arabic listeners a unique and unrivalled blend of the best exclusive Arabic music and the most popular international tracks in one place,' Deezer CEO Hans-Holger Albrecht said. 'At Deezer we understand that people's music tastes combine local and international tracks. Neowise orbit. We believe that it is important to be present locally, close to the artists we promote on our platform and to the local music fans who support them.'
Rotina De Exercicios Diarios
He added that Deezer will be opening a regional headquarters in Dubai to help the streaming service to grow in the new market. 'While overall streaming levels are still relatively low in the Middle East and North Africa, we are convinced that they will continue to grow rapidly and we look forward to being a key part in creating and capturing that growth,' he said.
