Qatar Reportedly Is Eyeing a Major Stake in Newsmax

The Qatari government reportedly is interested in buying a major stake in Newsmax, the conservative news outlet. The stake is rumored to be worth $90 million.

Politico broke the story early Tuesday. Newsmax is run by Chris Ruddy, who is a friend of President Donald Trump. 

The status of the talks was unclear. If the deal went through, it could possibly improve U.S.-Qatar relations due to Ruddy's friendship with the president.

According to Politico, the money would be used to help Newsmax expand its television operations.

Qatar owns the Al-Jazeera media network. The government was blockaded last summer by Saudi Arabia and Egypt, among others. It has faced scrutiny from other countries for its close ties to Iran. 

On April 9, Newsmax announced that it had hired Michael Clemente, a former Fox News executive, as CEO.

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