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News Corp eyes Stake in Saudi-Owned Rotana Media: Report - ASHARQ AL-AWSAT English Archive
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LONDON, (AFP) — Media giant News Corp is set to agree a deal to buy 10 percent of Rotana entertainment, owned by Saudi tycoon Prince Alwaleed bin Talal, the Financial Times reported on Tuesday.

A deal could be announced Tuesday, said the FT, adding that the move would mark “News Corp’s most significant investment so far in the Middle East”.

The business daily, citing people familiar with the matter, added that News Corp planned to buy a tenth of Rotana for an undisclosed sum and take an option to eventually double its stake in the group.

Rupert Murdoch’s News Corp last week agreed to sell its Bulgarian terrestrial TV business, bTV, for 400 million dollars (294 million euros) in cash to leading regional broadcaster CME.

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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