Warner Music has invested in Rotana Music, the Middle East’s largest record label. Warner Music Group announced Tuesday that it bought a minority stake in Rotana, which is owned by Saudi Arabian billionaire Prince al-Waleed bin Talal.
The value of the deal was not announced. The Wall Street Journal reported before the announcement that the companies were nearing a deal that would have valued Rotana at close to $200 million.
As part of the deal, ADA Worldwide, Warner’s label services division, will distribute Rotana releases outside of the Middle East and North Africa.
Rotana is the Arab world’s largest record label, which has signed some of the biggest music stars in the Arab world. The prince has investments in several major Western companies, such as the Four Seasons hotel chain and Twitter.