News Corp considers price of Rotana stake

Rupert Murdoch’s News Corp is considering paying between US$250 million (Dh918.2m) and $350m for a 20 per cent stake in Prince Alwaleed bin Talal’s Rotana media empire, according to Variety magazine.

The US weekly reported that News Corp and Rotana were meeting in London about the deal, and had been in talks since the 2006 Cannes Film Festival.

Executives also met in Cairo this summer to conduct due diligence and try to reach a value on the stake News Corp planned to take in Rotana.

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