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News Corp eyeing stake in Saudi’s Rotana Media
US-based News Corp is in talks with…
September 2, 2009 2:57 by kippreport
US-based News Corp is in talks with Saudi billionaire Prince Alwaleed bin Talal to take a 20 percent stake in his firm, Rotana Media, reports The Wall Street Journal. While a formal bid is expected this month, it’s not yet known whether the deal will be for existing stock or new shares, says the report.
Prince Alwaleed’s Kingdom Holding already holds 5.7 percent stake in News Corp.