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Alwaleed and Murdoch hold talks on likely joint ventures
break year for CEO Published in The Saudi Gazette on 17 - 01 - 2010

Prince Alwaleed Bin Talal held meetings this week with News Corp's Chairman and Chief Executive Rupert Murdoch to discuss investments, including Rotana Media, according to a statement from Alwaleed's office Saturday.
The meetings, which took place in New York on Jan. 14, “touched upon future potential alliance with News Corp,” the statement said, adding that Rotana and LBCSAT, 90 percent owned by Alwaleed, were discussed.
Nezar Nagro, president of Rotana Media Services, said in December a deal that would see News Corp. buy 10 percent of the existing shares in the company could be completed this month.
The statement gave no further details of a potential deal. A spokesperson for News Corp. was unreachable for comment.
Rotana which hosts News Corp.'s Fox channels in Saudi Arabia via its television network, owns rights to more than 2,000 Arabic movies and the world's largest Arabic language music library.
The company manages some of the Arab world's most popular artists, including Egyptian pop star Amr Diab and Lebanese divas Elissa and Haifa Wehbe.
According to Ipsos MediaCT, Rotana ranks among the top-five channels for advertising revenue in Saudi, the Gulf's most populous Arab nation.
Over the past two decades Alwaleed, through his Riyadh-listed conglomerate Kingdom Holding Co., has focused his investments on banks, hotels and media firms, building sizable stakes in companies like Citigroup, News Corp, Apple Inc., and Time Warner Inc.
News Corp. owns Dow Jones & Co., publisher of this newswire and The Wall Street Journal.
On Dec. 7, Zawya Dow Jones reported that News Corp. was close to completing a deal to buy a stake in Rotana, which is wholly owned by Alwaleed. A News Corp. spokesperson in London declined to comment at the time.
Shares in Kingdom Holding, majority owned by Alwaleed, were among the biggest risers on the Saudi Tadawul exchange Saturday up 10 percent.
Alwaleed, a major Citigroup shareholder, told Fox Business Network that the bank's Chief Executive Vikram Pandit must deliver in 2010.
Alwaleed said that 2010 is a make-or

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