Saudi Billionaire Eyes new Links with News Corp. (FOX)

Back in 2005 Saudi Prince bin Talal admitted to getting FOX News to change their coverage of the Muslim riots in France.

Covering the riots in Paris last November, Fox ran a banner saying: “Muslim riots.” Bin Talal was not happy. “I picked up the phone and called Murdoch… (and told him) these are not Muslim riots, these are riots out of poverty,” he said. “Within 30 minutes, the title was changed from Muslim riots to civil riots.”

Now the so called Prince is looking to get even more cozy with Murdoch and Co. Will anything good come out of this for us? I doubt it.

Saudi billionaire eyes new links with News Corp.
By TAREK EL-TABLAWY Sun Jan 17

CAIRO – The Saudi billionaire whose investment firm is one of the biggest stakeholders in News Corp. said he is looking to expand his alliances with the media giant, in the latest indication that his appetite for growth remains robust even as his company retrenches.

Prince Alwaleed bin Talal, a nephew of the Saudi king and who was listed last year by Forbes as the world’s 22nd richest person, met with News Corp.’s chief executive Rupert Murdoch on Jan. 14 in a meeting that “touched upon future potential alliances with News Corp.,” according to a statement released by his Kingdom Holding Co. late Saturday.

Media reports have indicated that News Corp, parent to Fox News and Dow Jones & Co., among others, may be thinking of buying a stake in Alwaleed’s Rotana Media Group, which includes a number of satellite channels that air in the Middle East.

Neither company has commented publicly on the possible deal, but the talks offer an indication yet that such an agreement may yet be in the offing.

Kingdom Holding’s statement said Alwaleed is already the second largest stakeholder in News Corp., with 5.7 percent of the shares of the media company. The stake is held through Kingdom Holding, in which Alwaleed holds a 95 percent stake.

The investment company has a diverse portfolio, ranging from hotels to shares in Apple, eBay and Citigroup.

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