By GottaLaff
SELL OFF: Prince Alwaleed bin Talal al Saud has offloaded a 9.09 percent stake in his Rotana Group to News Corp.
(GETTY IMAGES)
Saudi based media group Rotana will sell shares to News Corp for access to the US firm's movie making and new media expertise to help boost its position in Arab media ahead of an IPO.Isn't this the same place from which the 9/11 terrorists ....?
Rotana owns the Arab world's largest record label and about 40 percent of the region's movies - most of which are Egyptian - and operates 11 free to air television channels, two of which are through a partnership with News Corp.
Is Rupert palling around with...?
Oh but I kid. That's something you'd only hear on some biased outlet like... well, like....
...Fox.
Prince Alwaleed [...] holds a stake of about 7 percent in News Corp [...]
He said Rotana would benefit from News Corp's experience in television, movie production and new media, such as MySpace. [...]
News Corp Chairman James Murdoch said the deal expands News Corp's presence in a region with "a young and growing population where GDP (gross domestic product) growth is set to outstrip that of more developed economies in the years ahead". [...]
[Prince Alwaleed] said: "I don't visualise a situation whereby Fox News would be broadcasting in Arabic."
However, he said the partnership would help Fox News and the United States to "understand the Arab world better".
"Fox News is not the only media that is against Saudi Arabia ... It's an American syndrome".
Who would deny that ClusterFox is the perfect outlet to help us understand the Arab world better? They're so evenhanded and inclusive.
I couldn't be more excited for the U.S. I'm hopping from foot to foot in anticipation.
Thank you Rupes, for all you do.
H/t: Aphrodottie, 1kecko









badly, she wouldn't have to ::booohoooo!:: 

