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News Corp. Buys Stake in Saudi Media Firm - WSJ.com - 0 views

online.wsj.com/...3503804575083601280158176.html

News Corp. media SaudI Middle East company Rotana

shared by Theresa de los Santos on 28 Feb 10 - Cached

Theresa de los Santos on 28 Feb 10

"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."

<div class="cArrow"> </div><div class="cContentInner">"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."</div>

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