"News Corp. agreed to pay $70 million for a stake in the media company owned by Saudi billionaire Prince Alwaleed Bin Talal, one of its largest shareholders. The New York media conglomerate will take a 9.1% stake in Rotana Group, with
an option to double its holdings in 18 months. Corp. will have two seats on Rotana's six-person board. The investment gives News Corp its first significant foothold in the Middle East, where it expects economies to grow quickly."
News Corp is hungry to get into the middle east advertising/media markets because of the young audiences and emerging growth in their home markets. They are attempting to buy a share in Rotana Media.