News Corp. raises stake in Alwaleed's Rotana to 19%
Source: BI-ME with Bloomberg , Author: Posted by BI-ME staff
Posted: Thu May 17, 2012 9:26 am

SAUDI ARABIA. 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% from 14.53%, 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 US$35 million, the Abu Dhabi-based newspaper said, citing the Rotana spokeswoman.

Rotana, which is majority owned by Alwaleed, operates one of the largest TV networks and ad sales operations in the region and owns the largest Arabic film library. It has also built the leading record label in the Middle East, managing many of the most popular artists in the region and controlling the biggest Arabic music catalogue.
 
Rotana Group is a diversified media company in the Middle East. It is the world’s largest producer of Arabic music and a key distributor and producer of Arabic movies with a library comprising more than 1,600 movies.

Rotana also owns a bouquet of leading free-to-air TV channels including LBC Group, Cinema, Khalijiyah, Masryiah, Clip and Musica broadcasting the latest Arabic movies, series and music videos globally.

The Rotana Group employs over 1,100 employees located across the Middle East.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: April 28, 2017
UAE. Founder & Chairman of Emaar Properties shares the company's success story with students; Harvard Business School Senior Lecturer Sid Yog selected Emaar as the subject of a case study.
date:Posted: April 27, 2017
INTERNATIONAL. If history shows us that science has spawned so many unintended discoveries, what is around the next corner of unintended scientific breakthroughs?
date:Posted: April 27, 2017
SAUDI ARABIA. Increase in foreign direct investment seen as part of efforts to diversify the economy and boost investment inflows into the kingdom; National Transformation Programme updates to be revealed at Saudi Forum 2017.
dhgate