View Full Version : Fox's owner "LOVED" by the house of Saud!

09-08-2005, 10:42 AM
Saudi Prince Allies with Murdoch

Saudi Prince Al-Waleed bin Talal bin Abdulaziz Al Saud, who twice helped to bail out Euro Disney, has now come to the aid of Rupert Murdoch, taking a 5.5 percent stake in the company's voting stock in an effort to help the media tycoon defend himself against a possible effort by Liberty Media chief John Malone to seize control of the company. "We don't know what his [Malone's] intentions are," the Saudi investor told Bloomberg News. "We're very close to Mr Murdoch. You should not look at this matter as anti-Malone. You should look at it as being pro-Murdoch." On the other hand, Al-Waleed said that he stood ready to boost his stake if Murdoch's strategy "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." And in a separate interview with the Wall Street Journal, Al-Waleed commented, "Just because I am a friend of Mr. Murdoch, does not preclude at all the potential of me being a friend of Mr. Malone." Meanwhile, the London Financial Times reported that Murdoch has planned a rare "summit" meeting at his California ranch this weekend to discuss the company's strategy for expanding its presence on the Internet.


09-08-2005, 11:42 AM
Protecting his investment.