Rupert Murdoch’s News Corp is close to buying a stake in Rotana Media, the broadcast and music group owned by Saudi investor Prince Alwaleed bin Talal. The deal, which could be announced on Tuesday, would see News Corp take an initial stake of about 10% for an undisclosed sum, with an option to eventually take it to about 20%. It would also include the prince’s interest in LBC Sat, the Lebanese broadcaster. Prince Alwaleed’s Kingdom Holdings is News Corp’s largest shareholder outside the Murdoch family, with 7% of News Corp’s class B stock.

This entry was posted by Gwen Robinson on Tuesday, February 23rd, 2010 at 2:49 and is featured in The 6am Cut London (23 Feb 2010) . Tagged with Kingdom HOldings, lbs sat, news corp, prince alwaleed, rotana media, rupert murdoch. Edit this entry.