Tuesday, January 17- 2012 at 10:38
News Corp and Moby Group have signed an agreement under which News Corp is to become a minority investor in the Dubai-headquartered media firm. Moby is active in Central Asia, principally Afghanistan, and the Middle East. According to the terms of the deal, News Corp will contribute its 50% shareholding in Broadcast Middle East (BME), its Farsi-language TV joint venture with Moby, for a minority shareholding in Moby and will also provide growth capital to Moby for its expansion plans. BME will become a wholly-owned subsidiary of Moby following the investment.
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