Saudi prince takes News Corp stake

[emad]

Saudi prince takes News Corp stake <br>By Saeed Shah <br>Published: 07 September 2005 <br><br>Rupert Murdoch's attempts to retain control of his News Corp media empire got a boost yesterday after his ally, the Saudi investor Prince Alwaleed bin Talal, took a 5.5 per cent stake in the company's voting stock. <br><br>Mr Murdoch was forced to put in place a "poison pill" defence at News Corp, in November to stop a hostile takeover bid after a rival media magnate, John Malone, took an 18 per cent share in the company's voting stock. News Corp has two classes of stock, with the Murdoch family owning 30 per cent of the key voting shares.<br><br>Prince Alwaleed reiterated his support for Mr Murdoch yesterday as his Kingdom investment company converted a 3 per cent stake he held in non-voting News Corp stock to 5.46 per cent of the voting shares.<br><br>Prince Alwaleed described the Malone issue as "murky". He told Bloomberg News: "We don't know what his [Malone's] intentions are .... 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."<br><br>The issue of control and succession at News Corp came into focus more recently, after the decision of Lachlan Murdoch, the chairman's son, to leave the company where he had been deputy chief operating officer. The only Murdoch child left working in the business is James Murdoch, the chief executive of the News Corp-controlled BSkyB. <br><br>Rupert Murdoch's attempts to retain control of his News Corp media empire got a boost yesterday after his ally, the Saudi investor Prince Alwaleed bin Talal, took a 5.5 per cent stake in the company's voting stock. <br><br>Mr Murdoch was forced to put in place a "poison pill" defence at News Corp, in November to stop a hostile takeover bid after a rival media magnate, John Malone, took an 18 per cent share in the company's voting stock. News Corp has two classes of stock, with the Murdoch family owning 30 per cent of the key voting shares.<br><br>Prince Alwaleed reiterated his support for Mr Murdoch yesterday as his Kingdom investment company converted a 3 per cent stake he held in non-voting News Corp stock to 5.46 per cent of the voting shares.<br>Prince Alwaleed described the Malone issue as "murky". He told Bloomberg News: "We don't know what his [Malone's] intentions are .... 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."<br><br>The issue of control and succession at News Corp came into focus more recently, after the decision of Lachlan Murdoch, the chairman's son, to leave the company where he had been deputy chief operating officer. The only Murdoch child left working in the business is James Murdoch, the chief executive of t<!--EZCODE AUTOLINK START--><a href="http://news.independent.co.uk/business/news/article310838.ecehe">news.independent.co.uk/bu...0838.ecehe</a><!--EZCODE AUTOLINK END--> News Corp-controlled BSkyB. <br> <p></p><i></i>

[dbeach]

competeing criminals.<br><br>USA is wide awake asleep.<br><br>Truth seekers march along.Waiting for the Miracle.<br><br>criminals plan next crime.<br><br>as they cover up the last crime.<br><br>Sept is the month of change.<br><br>Fitzie has the wild card. <p></p><i></i>

[emad]

indicting BOTH Conrad Black and his gargolyle spouse Barbara A-Meal-Ticket-for-Life...<br><br>Really admire the painstaking work that's gone into busting Black/Hollinger scam and looking forward to the rest of the corrupt domino pack tumbling after the first one falls. Best bet: Thatcher's gonna do an 'Arafat' and mysteriously drop dead so her golden boy Conrad can't threaten to spill too many Tory beans in public.<br><br>September: you could be even more prescient that you yourself suspect dbeach!:<br><br>In London the story going round the hack circles is that the July7 train bombings mastermind suspect is linked directly to Poodle's 'Middle East Envoy' Lord Levy - the one who solicited all that Arab support for a WMD cover story scam from 9/11 onwards. And that this mastermind in turn is a former financial partner of ex-US ambassadory to the UK William Stamps Farish III.<br><br><br><br><br><br><br> <p></p><i>Edited by: <A HREF=http://p216.ezboard.com/brigorousintuition.showUserPublicProfile?gid=emad@rigorousintuition>emad</A> at: 9/9/05 10:01 am<br></i>