Alwaleed reaffirms support to Rotana

Prince Alwaleed bin Talal, chairman of Rotana Holding, chaired Rotana's board of directors meeting. Walid Arab Hashem, vice chairman, and Fahad Alsukait, CEO, Rotana Group, attended the meeting. The board members and representatives from News Corporation were Gary Davy and John Ireland, CFO Rotana Group. Also present was Charlotte Burr, head of strategy and development, Asia Pac, News Corp.
Rotana Group also announced that Newscorp has reached an agreement to exercise 50 percent of its previously announced option in Rotana Group, the Middle East media group. Under the terms of the agreement, News Corporation will acquire newly issued shares in Rotana for $35 million. The investment will take News Corporation's total stake in Rotana to 18.97 percent.