[Satellite TODAY 02-25-10] News Corp has acquired a 9 percent stake in the Rotana Group, a Middle East media group, the company announced Feb. 23.
News Corp. will acquire newly-issued shares in Rotana for $70 million. The company has an option to increase its stake to 18.18 per cent in the 18 months following completion. Rotana is one the region’s major broadcasters and works with Arabsat, among others.
    “A stake in Rotana expands our presence in a region with a young and growing population, where GDP growth is set to outstrip that of more developed economies in the years ahead. Rotana is a leading player in the Middle East and we look forward to working together,” James Murdoch, chairman and chief executive, Europe and Asia, News Corp said in a statement.