The company, which will now be renamed OSN Pehla provides about 40 channels in Hindi, Urdu, Bengali, Tamil and Malayalam aimed at expatriate workers living in the Middle East and North Africa. In OSN’s home market of the UAE, the Pehla channels are also available on the Du and Etisalat platforms.
At a press conference in Dubai, OSN CEO David Butorac said that the acquisition would enable OSN to reach out to one of the largest demographic groups in the region. He said the deal was funded by a mix of cash and debt but did not give details of its value.
OSN chairman and parent company KIPCO vice-chairman Faisal Al Ayyar said the acquisition underlined OSN’s position as the premier pay-TV provider across the MENA region. “OSN has been providing its subscribers with the greatest choice of quality entertainment available since it was formed in 2009 with access to all the major studios and the world’s leading television brands,” he said. “This acquisition builds on the KIPCO strategy of constantly exploring opportunities for business growth and expansion, and we are always looking to accelerate growth through value-creating transactions. OSN is now expanding its reach to South Asian expatriates in the region with an excellent and popular channel offering, thereby strengthening its position as the market’s leading pay TV network in the Middle East and North Africa. KIPCO will continue to support OSN’s expansion and look to increase its value to customers and shareholders.”