London - News Corporation announced that it has reached an agreement to buy a 9.09 percent stake in Rotana Group, the Middle East media group. Under the terms of the agreement, News Corporation 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. The acquisition extends News Corporation's presence in fast-growing Middle East markets in partnership with one of the region's strongest … [Read more...] about News Corporation acquires a stake in Rotana Group