A consortium led by Emirates-based expertise and funding group e& has agreed to amass a majority fairness stake in SVOD and streaming platform Starzplay Arabia.
The group, together with e&’s E-Imaginative and prescient and Abu Dhabi-based funding and holding firm ADQ, is taking roughly 57% of the Center East and North Africa service supplier. The consortium will purchase the controlling stake based mostly on a post-money valuation of $420 million, whereas additionally investing E-Imaginative and prescient’s present stake and secondary investments to affix the opposite present shareholders, together with Starz and SEQ Traders. Starz and Lionsgate will preserve business agreements for content material licensing to the enterprise. The transaction stays topic to regulatory approvals and sure administrative procedures.
Till 2022, Lionsgate-owned Starz was the lead investor in Starzplay Arabia together with media and expertise funding companies together with SEQ Traders and Delta Companions.
Starzplay Arabia has practically two million subscribers throughout 19 international locations, giving E-Imaginative and prescient a chance to steer in content material aggregation and entry the quick progress video DTC streaming enterprise within the MENA area, the corporate stated in a press release. The acquisition additionally supplies potential for worldwide enlargement, leveraging Starzplay Arabia’s attain throughout 20 world telcos. With the joint funding, Starzplay Arabia will leverage media content material delivered by each E-Imaginative and prescient and ADQ portfolio firms.
Jeffrey Hirsch, President and Chief Govt Officer of Starz, stated, “We’re happy with what (CEO and co-founder of Starzplay Arabia) Maaz (Sheikh) and the crew have constructed over the previous few years, creating one of many pre-eminent SVOD platforms within the Center East and North Africa. Starzplay Arabia marked our first worldwide initiative at a time when streaming internationally was nonetheless nascent. It served as a template for progress that allowed us to quickly scale the Starzplay model world wide now in over 60 international locations. We’re happy to proceed our productive partnership with E-Imaginative and prescient whereas including ADQ to the enterprise, companions whose native market experience will assist us proceed to speed up the expansion of the enterprise collectively and create huge worth.”