News Corp linked to Rotana deal

News Corp is in discussions to acquire a 20% stake in Saudi-based broadcast group Rotana, according to US press reports. Rupert Murdoch’s News Corp is expected to lodge a formal bid for the stake, which will take the form of existing equity or new shares, later this month.

News Corp launched two channels in the Middle East last year in association with Rotana, which is backed by Saudi billionaire Prince Alwaleed bin Talal. Rotana, meanwhile, has launched its Rotana Europe TV international channel on News Corp-backed pay-TV platform BSkyB.