News Corp. Increases Investment in Arabic Media Company

News Corporation has increased its stake in Rotana Group, the Arabic media company which is owned by Saudi billionaire Prince Alwaleed bin Talal. News Corp. upped its investment from nine percent to 14.5 percent, says Forbes.

Rotana Group controls almost all the music and movies in the Middle East, and bin Talal – the 26th richest person in the world – has even been called “the Arabian Warren Buffett” by Time. According to Forbes, there’s a huge population of young people in the Middle East, so this investment seems like a good idea for News Corp.

Also, it should be noted that FishbowlNY has no official comment about bin Talal’s sunglasses at this time.