Nissan to lay off thousands of workers as sales drop    Trump picks Susan Wiles as White House chief of staff    Three charged in connection with Liam Payne's death    Israel passes law to deport relatives of attackers, including citizens    Monkey mayhem in South Carolina after 43 primates escape research facility    Russian anti-war teenager faces five years in jail after failed appeal    Uproar in Ghana after president unveils his own statue    BD and INS partner to elevate standards of infusion care in MENAT    Qassim emir launches 52 health projects costing a total of SR456 million    Dubai Design Week launches its 10th edition, celebrating creativity and innovation    Fakeeh Care Group reports 9M-2024 net profit of SR195.3 million, up 49% y-o-y driven by solid revenue growth and robust profitability    GASTAT: Passengers of public transport bus and train soar 176% and 33% respectively in 2023    HRT does not impact life expectancy — UK health body    Liam Payne's body to be flown back to the UK    Arab leaders and heads of state congratulate US President-elect Donald Trump    Neymar suffers muscle tear, out for 4-6 weeks    Suspect arrested for banking fraud totaling SR493 million as Nazaha pursues corruption charges    Al Nassr secures 5-1 victory over Al Ain to edge closer to knockout stage    Al Ahli extends perfect start with 5-1 victory over Al Shorta    Mitrovic's hat-trick leads Al Hilal to 3-0 victory over Esteghlal    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Muted Eid celebrations for millions of Nigerian Muslims    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Alwaleed eyes new links with News Corp.
Published in The Saudi Gazette on 18 - 01 - 2010

Chairman of the Kingdom Holding Company Prince Alwaleed bin Talal, whose investment firm is one of the biggest stakeholders in Rupert Murdoch's News Corp., said he is looking to expand his alliances with the media giant.
He 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 and amp; 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.
Alwaleed, and the investment firm, were hit hard by the global meltdown. He has since focused on shoring up borrowing power, in part through a recent decision to transfer $180 million of his shares in Citigroup to Kingdom Holding. In a statement last week, he described the move – valued at about $600 million – as key to facilitating future borrowing and growth.
He also met last week with Citigroup's chief executive Vikram Pandit, according to a statement by Kingdom Holding e-mailed Sunday.
Alwaleed told Pandit that the “honeymoon is now over,” a clear indication that one of the banking giant's largest investors wants solid results this year, according to a transcript of an interview that aired Thursday on Fox Business News.
“I told him that clearly the market gave you two years leeway, but I think now it's time to deliver,” Alwaleed said. “And 2010 is really for him is year to make it or break it, and he has to deliver. “ Alwaleed raised his stake in Citigroup to 5 percent in late 2008 from less than 4 percent in a move that came as the company was facing a possible collapse. Kingdom Holding says Alwaleed is the single largest shareholder in Citigroup.
Alwaleed's Rotana already has an alliance with News Corp. In 2008, the two companies teamed up to bring Fox Movies to the Arab world and then last year, Rotana and Fox International Channels signed a multi-year output deal with The Walt Disney Co. to provide a range of programing to viewers in the Middle East, according to the statement by Kingdom Holding.
Alwaleed has also been meeting with officials in Abu Dhabi. A statement by Kingdom Holding said he met with senior officials in Abu Dhabi, which holds the presidency of the United Arab Emirates.


Clic here to read the story from its source.