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News Corp eyes Stake in Saudi Firm Rotana Media - WSJ - ASHARQ AL-AWSAT English Archive
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(Reuters) – Rupert Murdoch’s News Corp is in talks with Saudi billionaire Prince Alwaleed bin Talal to buy a 20 percent stake in broadcaster Rotana Media, the Wall Street Journal reported, citing people familiar with the deal.

The newspaper, citing a person involved with the deal, said it’s not clear at this stage whether the deal will be for existing stock or new shares.

A formal bid valuing the stake is expected this month, the person told the paper, without giving specifics on price.

News Corp could not be immediately reached for comment by Reuters out of regular U.S. business hours.

The WSJ said, Rotana, which hosts Fox channels in Saudi Arabia via its TV network, owns rights to more than 2,000 Arabic movies and a large music library.)

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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