News Corp. seeks stake in Saudi media company: WSJ

Sep 02, 2009
A general view shows the Saudi capital Riyadh. News Corp. is in talks with Saudi tycoon Prince Alwaleed bin Talal to take a stake in Rotana Media in what would be its first major investment in the Middle East, The Wall Street Journal reported on Wednesday.

News Corp. is in talks with Saudi tycoon Prince Alwaleed bin Talal to take a stake in Rotana Media in what would be its first major investment in the Middle East, The Wall Street Journal reported on Wednesday.

The newspaper, citing "people familiar with the deal," said News Corp. may buy a 20 percent interest in Rotana from Prince Alwaleed, who controls Saudi conglomerate Kingdom Holding Co.

The News Corp.-owned Journal said a formal bid valuing the stake is expected this month.

The newspaper said Rotana, which hosts the channels of News Corp.-owned Fox in Saudi Arabia via its television network, owns rights to more than 2,000 Arabic movies and a large music library.

The Journal said that as of last year, Kingdom Holding held a 5.7 percent stake in News Corp. and has "long-established business links" with the family of . chairman .

(c) 2009 AFP

Explore further: Japan's NTT to buy German data centre operator

add to favorites email to friend print save as pdf

Related Stories

Future of newspapers is digital: Murdoch

May 28, 2009

News Corp. chairman Rupert Murdoch said on Thursday that the future of newspapers is digital, but it may be 10 to 15 years before readers go fully electronic.

Former AOL head to run News Corp. digital

Apr 01, 2009

Jonathan Miller, a former head of Time Warner online unit AOL, was named by News Corp. chairman Rupert Murdoch on Wednesday to oversee MySpace and other digital businesses at the media giant.

News Corp. plans fees for newspaper Web sites

Aug 06, 2009

(AP) -- Visitors to the Web sites of newspapers owned by News Corp. will have to start coughing up fees to read the news within the next year, Chairman Rupert Murdoch said.

Recommended for you

HP's big deal: Tech giant buys Aruba Networks for $2.7B

3 hours ago

Hewlett-Packard is buying wireless networking company Aruba Networks for about $2.7 billion, in what amounts to HP's first major acquisition since its disastrous purchase of a British software company in ...

Japan's NTT to buy German data centre operator

Mar 01, 2015

Japanese telecom giant NTT Communications is looking to acquire German data centre operator e-shelter, as it seeks to cash in on growing demand in Europe, a newspaper reported Saturday.

Google hits back at rivals with futuristic HQ plan

Feb 27, 2015

Google unveiled plans Friday for a new campus headquarters integrating wildlife and sweeping waterways, aiming to make a big statement in Silicon Valley—which is already seeing ambitious projects from Apple ...

Ericsson sues Apple over patent violations

Feb 27, 2015

Swedish telecoms group Ericsson announced Friday a lawsuit against Apple claiming that the US tech giant continued to use its technology in iPhones and other wireless devices after refusing to renew a licencing ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.