Filed under: Google (GOOG), Apple Inc (AAPL), Citigroup Inc. (C), New York Times’A’ (NYT), Sony Corp ADR (SNE), Bear Stearns Cos (BSC), Blackstone Group L.P (BX)

An interesting article over at TheStreet.com reports that commercial real estate investment firm, Blumberg Capital Partners, is readying to launch an investment firm, backed by Middle Eastern investors, to invest in U.S. media companies.

TheStreet.com reports that “the fund would target newspapers, as well as Hollywood movie studios, online media outfits, broadcast news, and possibly radio businesses.” According to CEO Philip Blumberg, it appears that the fund would raise about $500 million and with the use of leverage, have purchasing power of three times that amount.

I’ve noticed recently that even indefatigable Jim Cramer has wondered out loud (as he frequently does) why foreign investors haven’t stepped up to the plate to start picking up cheap U.S. companies propelled by high oil prices, a weak dollar, and U.S. companies trading at relatively multi-year cheapness.

We’ve seen Abu Dhabi recently inject $7.5 billion of capital into Citigroup (NYSE: C), make a 5% investment into Sony (NYSE: SNE), and make a similarly-large investment in the Carlyle Group.

Continue reading After investing in Citigroup, Middle Eastern investors on prowl for more

Permalink | Email this | Comments

Share This

This entry was posted on Sunday, December 2nd, 2007 at 12:55 pm and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.