Murdoch ups stake in Rotana
Rupert Murdoch’s News Corp is increasing its holdings in Prince Alwaleed bin Talal’s Rotana Media. News Corp already held 14.5 per cent of Saudi Arabian group and is paying $35 million for new shares which will take their holdings to 18.97 per cent.
The news was reported in the Saudi Gazette and followed a Rotana board meeting. Prince Alwaleed holds about seven per cent of News Corp.