News Corp. (NWS) is in talks to buy a 20% stake in Saudi Arabia’s Rotana Media, the WSJ reports.
News Corp. plans to buy the stake from Prince Alwaleed bin Talal, who controls Saudi business group Kingdom Holding Company. Kingdom Holding holds 5.7% stake in News Corp., the Journal says.
Rotana Media broadcasts Fox channels in Saudi Arabia, and owns rights to 2,000 Arabic movies.
Business Insider Emails & Alerts
Site highlights each day to your inbox.