News Corp in talk to buy 20% of Saudi's Rotana Media for $250-$350 million
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.
Alwaleed, a Middle East investor, held a 5.7% stake in News Corp. as of the end of 2008. According to Variety magazine, News Corp might pay around $250 to $350 million for its 20 per cent stake in Rotana media.
September 3, 2009 |
Filed under Investment in Middle East
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