News Corp. Raises Stake in Alwaleed Media Company, National Says
By Arif Sharif -
2012-05-17T04:37:09Z
Rupert Murdoch’s News Corp. (NWSA) has raised its stake in Rotana, the media company controlled by Saudi billionaire Prince Alwaleed bin Talal, to 18.97 percent from 14.53 percent, The National reported, citing an unidentified spokeswoman.
News Corp. increased its stake in Rotana, which runs several television and radio stations, by exercising the remaining half of an option to buy new shares issued by Rotana for $35 million, the Abu Dhabi-based newspaper said, citing the Rotana spokeswoman.
To contact the reporter on this story: Arif Sharif in Dubai at asharif2@bloomberg.net
To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net
Sponsored Link
Rate this Page
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.