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The top management of Saudi-based media group Rotana met under the chairmanship of Prince Alwaleed bin Talal bin Abdulaziz Alsaud to discuss the latest developments at Rotana after its strategic alliance with global media giant News Corp.
The meeting, which was attended by Dr Waleed Arab Hashem, vice chairman and Fahad Alsukait, CEO, discussed ways to strengthen the strategic alliance with News Corp.
According to a company statement, Newscorp bought a 9.09 per cent stake in Rotana Group in February to further develop its postion [sic] in the media sector in the Middle East and expand it horizon.
The segment’s expansive operations include the FOX News Channel and FOX Business Network, FX, STAR and many other popular pay-TV channels.
Kingdom Holding Company, the principal shareholder of the Rotana Group, is owner of approximately 7 percent of News Corporation’s Class B Common Stock.
A category of capital stock issued by a company and having specific rights or characteristics.
Class A non-voting shares carry rights to a greater dividend than Class B voting shares