News Corp to Buy Minority Stake in Dubai’s Media Company Moby Group

By: domain-b.com

Rupert Murdoch’s US media giant News Corp is expanding its presence in the Middle East media market and beyond by agreeing to acquire a minority stake in Dubai-based media company Moby Group.

Under the deal, News Corp will relinquish its 50 per cent stake in Broadcast Middle East (BME), a Farsi-language television company jointly owned by News Corp and Moby, in exchange for a minority share in Moby.

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