Deep-pocketed Middle Eastern investors have already put billions into the U.S. real estate and financial sectors. Now, with more than $1 trillion to invest from the rise of the price of oil, it looks like they may put some of their wealth into acquisitions in the U.S. media sector, according to TheStreet.com.
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Blumberg Capital Partners is launching a fund — whose primary investors will be from oil-rich United Arab Emirate states Dubai and Abu Dhabi — to invest in U.S. media companies, The Street.com further states. The fund will look to investments in Hollywood movie studios, online media outfits, broadcast news and possibly radio businesses.
So what media companies should this fund consider? The struggling New York Times might be an interesting choice for this fund. The storied media company's stock is trading near its all-time low of $16.90, but its brand is recognized around the world. Other possible interesting targets could be LIN TV Corp., a midmarket broadcasting company that operates 31 television stations in 18 markets throughout the U.S. and Puerto Rico that has been on the block since May. — Gerald Magpily
See TheStreet.com article
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