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News Corp nears deal to buy stake in Rotana
- Saudi Arabia: Tuesday, February 23 - 2010 at 11:43
Rupert Murdoch's News Corp is close to buying a stake in Rotana Media, the broadcaster and music group owned by Saudi billionaire investor Prince Alwaleed bin Talal, the Financial Times has reported, citing people familiar with the matter. The deal, which could be announced as early as today, would see News Corp take an initial stake of about 10% for an undisclosed sum, with an option to take this up to about 20% in time, the newspaper said. The deal will also include the prince's interest in Lebanese broadcaster, LBC Sat.
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StaffTuesday, February 23 - 2010 at 11:43 UAE local time (GMT+4)
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