News Corp has closed its deal to acquire a stake in Middle Eastern pay-TV operator Rotana. The US firm has acquired a 10% stake in the Saudi-based firm with an option to acquire a further 10%. This marks one of the most significant deals by a US media firm in the Middle East.
Rotana, which is backed by Saudi Prince Waleed bin Talal, launched a raft of Fox-branded English language entertainment channels in the region earlier this year and the two companies are expected to launch a range of new channels next year.
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