Report: News Corp. Eyes Mideast Assets

DUBAI: News Corporation is in talks with Saudi billionaire Prince Alwaleed bin Talal for a stake in the Middle Eastern media group Rotana, according to the Wall Street Journal.

In what would be its first major investment in the Middle East, News Corp. is discussing a 20-percent stake with Alwaleed, whose Kingdom Holdings owns about 5.7 percent of News Corp. Rotana operates a bouquet of free-to-air networks, including a Fox Movies channel in partnership with Fox International Channels. A formal bid is expected this month.