Happy Tuesday everyone!

It is going to be a little longer read than usual since Warner Bros Discovery has announced a split into two companies and they recently bought a stake in Dubai’s OSN+. A deep dive on it below.

Meanwhile, Dubai has stepped in to restructure Majid Al Futtaim Group as disputes continued over succession, and Chinese tech giant Meituan, which operates under Keeta in MENA region, is expanding its drone delivery in Dubai to the Marina area.

Also, it is Tuesday, so you can see who got funded in the past week. Enjoy!

But before that: For quick daily updates, follow us on Instagram, and you can watch our Smashi Business Show live every weekday from 10AM onwards (UAE time). Also, you can join our Whatsapp channel to receive updates from the business world.

Dubai Steps In To Restructure Majid Al Futtaim Group Amid Succession Disputes

📰 What Is It About

• Dubai’s government has taken control of the parent company behind Majid Al Futtaim (MAF), one of the Gulf’s most influential privately owned consumer businesses.

• A special judicial committee, established at the request of the founder’s ten heirs, has appointed a new board for MAF Capital — the group’s parent entity.

• The restructured board includes five government and four family representatives, led by prominent Emirati businessman Fadel Al-Ali.

• MAF Capital has been converted from a limited liability company into a public joint stock company, with decision-making thresholds lowered to ease governance.

• Despite the changes, MAF insists it remains a privately owned and independently operated Emirati company, with stable governance and strong performance.

📌 Why It Matters

• MAF is a key pillar of Dubai’s consumer economy, operating iconic assets like Mall of the Emirates, and managing global brands such as Carrefour, Lego, and Hollister in the region.

• The move follows rising shareholder tensions and uncertainty around succession after Majid Al Futtaim’s death in 2021.

• The restructuring marks a rare but significant government intervention in a private conglomerate and reflects broader challenges faced by family-run Gulf businesses during leadership transitions.

• Dubai is currently experiencing an economic boom with an influx of global capital and residents — making the stability of retail giants like MAF strategically critical.

🔮 What’s Next

• The restructuring brings governance clarity and operational stability, potentially paving the way for a future public listing, according to insiders.

• No changes will be made to Majid Al Futtaim Holding, the operational arm chaired by former KPMG chair Sir Michael Rake.

• This latest intervention could serve as a blueprint for succession governance in other major Gulf family businesses facing similar transitions.

Markets

MENA Startups: Who Got Funded?

🇦🇪 UAE

EightClouds – $20M round (Gulf investors)
Best Kept Shared – Investment round (Move the Needle)
eVoost – Seed round (Qora71)

🇶🇦 Qatar

ShipBee – $235K Pre-seed round (GrowthX)

🇹🇳 Tunisia

Thunder Code – $9M Seed round (Silicon Badia)
Kumulus Water – $3.5M Seed round (undisclosed investors)

As WBD Splits, Its Stake in OSN+ Becomes a Key MENA Streaming Asset

Warner Bros. Discovery’s upcoming split into two separate public companies by mid‑2026 will significantly shape the future trajectory of its OSN investment—and clarifies which unit will oversee the partnership:

1. The Two WBD Entities & Where OSN Fits

According to today’s announcement, by mid‑2026 WBD will divide into:

• Streaming & Studios: Includes HBO Max, Warner Bros. film & TV studios (Warner Bros. Television, Motion Picture Group, DC Studios), and content/IP libraries.

• Global Networks: Encompasses CNN, Discovery+ and other linear TV, sports cable channels, free-to-air European networks, and digital properties like Bleacher Report.

OSN is a streaming platform, not a linear cable network. Therefore, WBD’s 30% stake in OSN Streaming Ltd.situates squarely under the Streaming & Studios division once the split is completed. That means:

• Post-split leadership, this asset (and any future content investments or collaborations with OSN) will be overseen by David Zaslav's team, focused on strategic streaming growth.

2. Implications of the Split on the OSN Deal

a. Sharper Streaming Focus
When housed within a leaner Streaming & Studios company, the OSN partnership becomes more strategic. The new entity’s core mission is to grow streaming subs globally; thus the OSN deal can receive full attention and priority resource allocation.

b. Simplified Decision-Making
With OSN under a division free from legacy network distractions, approving content co-productions, PHX pay‑per‑view tie-ins, or technology enhancements becomes more straightforward—without the bureaucracy of balancing cable‑network interests.

c. Monetization & Investment Firepower
Streaming & Studios will have a cleaner balance sheet, free from cable debt. That could increase WBD’s ability to wholly or partially increase its stake in OSN, outsourcing distribution risk and costs to a proven local partner.

3. OSN–Anghami Tie‑in: Strategic Triangular Synergy

OSN already plays a critical role in a broader MENA entertainment ecosystem:

• Anghami Partnership: OSN Group took a 55.45% majority stake in Anghami in April 2024 and funded an additional up to $55 M in late.

  • This strengthened a bridge between video (OSN+) and audio (Anghami), integrating capabilities like AI recommendations, 4K premium video and Dolby Atmos .

• Synergy Angle: The WBD–OSN stake adds premium international content and brand capital into this mix.

  • OSN+ now benefits from Warner’s deep HBO/Max catalog and global co‑production know‑how.

  • Anghami+OSN+ gain appeal by integrating HBO originals, MENA‑centric audio‑video UX, and regional telecom bundling (e.g., Vodafone).

Once WBD’s Streaming & Studios division formalizes operations, it’ll have direct alignment with OSN across multiple fronts—content creation, marketing, and tech optimization. There’s even scope for joint offerings: e.g., bundled HBO Max + OSN+ + Anghami as one super‑app for MENA consumers.

4. Risks & Watch‑Points

• Minority Stake Limits Control: Even under Streaming & Studios, WBD holds only 30%, requiring consensus for major moves.

• Need for Agile Investment: Investors will scrutinize whether this new standalone streaming spinoff reinvests aggressively in the OSN/A‑Anghami setup or uses proceeds to pay down debt.

• Competitive Context: Netflix, Amazon Prime, ShahidVIP and MBC+ continue to push local originals—so content productivity and pricing execution will be critical.

Bottom Line

• Both WBD restructuring and WBD’s OSN investment are strategically aligned—streaming is the future.

• Post-spin, OSN falls under the streaming-focused entity, unlocking sharper strategy, branding, and investment alignment.

• OSN’s existing Anghami link adds multidimensional plug-and-play.

• It's a powerful regional play—though future success depends on content execution, deeper collaboration, and competitive response in MENA.

Meituan to Expand Drone Delivery Routes Over Dubai Marina in Global Push

📰 What Is It About

• Chinese tech giant Meituan is expanding its drone delivery service in Dubai, with 2–3 new routes set to launch in the second half of 2025.

• The new routes will be highly visible, operating along the Dubai Marina waterfront, according to Vice President Yinian Mao.

• Meituan began drone deliveries in Dubai in December 2024, marking its first overseas deployment of the technology.

• The company has also tested drone deliveries in Hong Kong, with service launching for some Keeta app usersstarting this week.

📌 Why It Matters

• The expansion signals Meituan’s ambitious international growth strategy, as it explores global markets for autonomous delivery.

• Dubai’s tech-forward infrastructure and regulatory environment make it a key testing ground for drone logistics.

• With drone deliveries already completing nearly half a million orders in China, this move strengthens Meituan’s competitive edge against rivals like JD.com.

• The project boosts Dubai’s profile as a hub for smart mobility innovation, aligning with its future-forward vision.

🔮 What’s Next

• Meituan also plans 4–5 new drone routes in Shanghai later this year, including cross-river deliveries over the Huangpu.

• The company envisions 10%–15% of global instant deliveries eventually being handled by drones, especially for time-sensitive or medical needs.

• Success in Dubai could lead to further route expansions and regional adoption, making the city a potential model for drone logistics at scale.

🔍From Smashi Business’ Desk

• Here’s the real story behind Abu Dhabi’s iconic moniker: The Capital of Capital.

• Arab excellence is possible — and Prince Alwaleed bin Talal proves it, says Emirati Billionaire Khalaf Al Habtoor.

• A viral video circulating online falsely claims that Saudi state-owned Al Arabiya reported President Zelensky purchased a $3.2 million apartment in Dubai’s Burj Khalifa for his mother.

• First Class Just Got Sweeter as Emirates Airlines partnered with Dubai’s beloved Home Bakery this Eid Al Adha.

🔍In other news…

• Syria to reconnect to Swift ‘within weeks’.

• Dubai gold sales rise 10% during Eid al-Adha.

• Saudi Arabia's first-quarter GDP grows by 3.4%, beating flash estimates.

• UAE: Emirates Islamic Bank to delist from Dubai stock market.

• Dubai Metro Blue Line to have world’s highest metro station.

• Dubai gets new 'Jumeirah Emirates Towers' - this time for homes.

• Dubai's Al Habtoor bets big on Syria’s reconstruction, economic rebound.

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