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Posts Tagged ‘Alwaleed bin Talal’

News Corp.’s Second Biggest Shareholder Watches CNBC

As violence raged and martial law was decreed in Egypt over the weekend, Saudi Prince Alwaleed Bin Talal met with the Egyptian Ambassador to Saudi Arabia. Why is this a TVNewser story, you ask? Because look at what was on the TV during this meeting: CNBC’s “Squawk Box.” Even more interesting, Prince Alwaleed is the second-largest shareholder of News Corp., which owns Fox Business Network. FBN isn’t likely available in Riyadh, or maybe the Prince is just a Joe Kernen fan. Alwaleed’s media investments go beyond News Corp. He also owns most of Rotana Group (News Corp. has a minority stake). Among Rotana’s holdings is a chain of pan-Arab radio and TV channels.

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Saudi Media Mogul Prince Alwaleed Talks Hacking Scandal, News Corp. Leadership on CNN

Saudi Prince and media mogul Prince Alwaleed bin Talal appeared on CNN’s “Piers Morgan Tonight” last night, where he discussed the ongoing crisis facing News Corp. over its hacking scandal.

Alwaleed has a stake in the game, as he is the second-largest shareholder of News Corp. stock outside of the Murdoch family. Those holdings give him a substantial amount of power in swaying the leadership of the company. On “PMT,” he reiterated his support for Rupert Murdoch, while dding that he is confident in the company’s management structure:

“News Corp. is the only real media [company] that has a global presence. For a company like that to function, clearly it does not depend on Rupert or James Murdoch. I see a lot of depth at the management level at all levels.”