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. Last Updated: 07/27/2016

News Corp. Eyeing Stake in Ren-TV

International media giant News Corp. is in talks to acquire a minority stake in the Mocsow-based Ren-TV television station, an official close to the talks said Monday.

Top News Corp. executives met Monday for talks with top executives from the industrial conglomerate Severstal, which owns a majority stake in the network, Severstal spokeswoman Olga Antonova said.

She said she could not provide further details. However, an official familiar with the talks, who asked not to be named because the talks were in progress, said News Corp. wanted to buy 35 percent of Ren-TV.

Ren-TV broadcasts in more than 700 towns and cities throughout Russia, and its news coverage is considered liberal compared to the country's three state-controlled national channels.

Severstal, which is controlled by metals tycoon Alexei Mordashov, purchased a 70 percent stake in Ren-TV from state electricity monopoly Unified Energy Systems for $100 million in July.

German media company Bertelsmann holds the remaining 30 percent stake in the channel.

News Corp.'s managing director, Rupert Murdoch, and other top U.S. and German executives met for closed-door discussions with President Vladimir Putin in St. Petersburg in June.

News Corp., incorporated in Delaware, is one of the largest global media companies, with properties including the Twentieth Century Fox movie studio, the HarperCollins book publishing unit, British satellite network BSkyB and newspapers in London, New York and Australia.

The company is also a major player on Russia's billboard market.