Saudi prince increases stake in Murdoch's Fox: 5.5% voting stake

[Bush_Eats_Beef]

http://rawstory.com/news/2005/Saudi_prince_increases_stake_in_Murdoch_0906.html

Saudi Arabian investor Prince Alwaleed bin Talal said he now holds a 5.5% voting stake in News Corp. and is ready to purchase more voting shares to protect the media company from any unfriendly bids, the WALL STREET JOURNAL reported Tuesday afternoon. Excerpts:

Prince Alwaleed, president of Kingdom 5KR-62 Ltd. and Kingdom 5KR-63 Ltd., now holds 5.5% of the voting shares of the New York company controlled by Rupert Murdoch.

"We have transferred our stocks from the nonvoting to the voting, and we are all mobilized and ready to increase our stocks whenever the opportunity comes and whenever the situation warrants," Prince Alwaleed said Tuesday in an interview on CNBC. "For example, if we feel that the strategy of Mr. Murdoch and his son and his family is being threatened by any outsider, clearly, this is something we will not accept because we are very happy as shareholders with what Mr. Murdoch is doing."

Prince Alwaleed said he has informed Mr. Murdoch, who is chairman of News Corp., of his strategy.

[madeline_con]

1. Perhaps pro-Israeli spin will decrease?

:shrug:

[Bush_Eats_Beef]

2. My guess is that they will pick up the phone...

...any time that they are NOT "very happy as shareholders with what Mr. Murdoch is doing."

[madeline_con]

3. Which will be when the genocide against Palestinians...

gets bad, or every terrorist is portrayed by an Arab, would be my guess.

[ReadTomPaine]

4. Precisely.. at least this exposes..

the direct umbilical link between FOX and the Saudis. This may be useful later, when the trials start.