Murdoch plans to buy shares in Middle East media not to disclose more details

Source: Internet
Author: User
Keywords Lebanon Saudi Arabia
Tags company economic economic daily media media company not to office
BEIJING, January 18 (Xinhua) Billionaire investor Saudi Arabian Prince Awalide (Alwaleed bin Talal) and News Corp chairman Rupert Murdoch meeting to discuss cooperation investment opportunities, Murdoch may buy Awalide is a major shareholder of Luo he media company (Rotana  Media) Partial equity. Awalide's Kingdom Holdings (Kingdom LC) surged 10% on 16th, according to foreign reports quoted by Taiwan's economic daily. In a statement 16th, the Prince of Awalide's office stated that Awalide and Rupert Murdoch met in New York 14th to "talk about potential opportunities for future alliances with News Corp", as well as the Awalide, who owns 90% per cent of the company, and Lebanese satellite Television (LBCSAT).  The office did not disclose more details.  According to of the business information website, Luo, who owns more than 2,000 Arab films, is the world's largest Arab music library and broadcasts News Corp's Fox channel in Saudi Arabia through his own television network. Luo He also has some of the Arab world famous artists brokerage contracts, including the Egyptian pop singer Diab (AMR), as well as the Lebanese pop diva Iliza (Elissa) and Wehbe (Haifa Wehbe).  According to Ipsos MediaCT, the city's regulator, the most populous Saudi Arabia in the Persian Gulf, Luo's advertising revenue ranked top five.  Nezar Nagro, president of Nagro Media Services, said last December that News Corp's deal to buy the company's 10% stake could be completed this month.  News, Awalide's Saudi exchange listed investment company Kingdom Holding (Kingdom LC) shares 16th led the market rose, up 10%.  Over the past 20 years, Awalide has been holding large investments in investment banking, hotels and media through its headquarters in Riyadh, and has a big share of Citigroup, news media, Apple and time Warner. News Corp has Dow Jones (Dow Jones), which publishes The Wall Street Journal and the website.
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