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The new channel, which will broadcast in Arabic and is intended to compete with the Al-Arabiya and Al-Jazeera satellite channels, will focus on development in Saudi Arabia and the wider Arab world, with an emphasis on politics, economics and society.
Khashoggi to head new 24-hour Arab news channel - Saudi Arabia - ArabianBusiness.com
Rotana will get $70 million for 9.09 percent of its capital in new shares that will be issued for the long anticipated deal and News Corp will have 18 months after the completion of the deal to double its stake to 18.2 percent for another $70 million, Rotana Chairman Prince Alwaleed bin Talal said on Tuesday.
Speaking to reporters, he said: "This (News Corp) transaction values Rotana at more than $800 million... But the transaction is way, way beyond finance... Rotana does not need to be financed. It has near zero debt."
News Corp snaps up $70m Rotana stake - Media - ArabianBusiness.com
"A stake in Rotana expands our presence in a region with a young and growing population, where (economic) growth is set to outstrip that of more developed economies in the years ahead," James Murdoch, chairman and CEO of News Corp.'s European and Asian operations, said in a statement. "Rotana is a leading player in the Middle East and we look forward to working together."
News Corp. Buys 9 Percent of Mideast's Rotana - ABC News
The prince said that the deal would strengthen the existing relationship with News Corp "building Rotana's presence across the region and expanding its reach to the Arab diaspora around the world."
In a prepared statement, Rupert Murdoch's son James, who heads News Corp's European and Asian arm, said that the newly acquired stake would help his company expand its presence in "a region with a young and growing population where GDP is set to outstrip that of more developed economies in the years ahead."
Murdoch buys into Rotana - Arab News
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What this means is that Fox News will become the largest news organization in the Middle East.
One wonders, will a news organization be able to compete in an area of the world where every news organization plays Anti American, Anti Israel sentiment 24/7?
Will Fox play Anti Arab in this country and Anti American in the Middle East?
The question had to be asked.
Khashoggi to head new 24-hour Arab news channel - Saudi Arabia - ArabianBusiness.com
Rotana will get $70 million for 9.09 percent of its capital in new shares that will be issued for the long anticipated deal and News Corp will have 18 months after the completion of the deal to double its stake to 18.2 percent for another $70 million, Rotana Chairman Prince Alwaleed bin Talal said on Tuesday.
Speaking to reporters, he said: "This (News Corp) transaction values Rotana at more than $800 million... But the transaction is way, way beyond finance... Rotana does not need to be financed. It has near zero debt."
News Corp snaps up $70m Rotana stake - Media - ArabianBusiness.com
"A stake in Rotana expands our presence in a region with a young and growing population, where (economic) growth is set to outstrip that of more developed economies in the years ahead," James Murdoch, chairman and CEO of News Corp.'s European and Asian operations, said in a statement. "Rotana is a leading player in the Middle East and we look forward to working together."
News Corp. Buys 9 Percent of Mideast's Rotana - ABC News
The prince said that the deal would strengthen the existing relationship with News Corp "building Rotana's presence across the region and expanding its reach to the Arab diaspora around the world."
In a prepared statement, Rupert Murdoch's son James, who heads News Corp's European and Asian arm, said that the newly acquired stake would help his company expand its presence in "a region with a young and growing population where GDP is set to outstrip that of more developed economies in the years ahead."
Murdoch buys into Rotana - Arab News
------------------------------------------------------------------------------------
What this means is that Fox News will become the largest news organization in the Middle East.
One wonders, will a news organization be able to compete in an area of the world where every news organization plays Anti American, Anti Israel sentiment 24/7?
Will Fox play Anti Arab in this country and Anti American in the Middle East?
The question had to be asked.