Saudi billionaire Prince Alwaleed eyes expanding alliance with Murdoch’s News Corp.
By APSunday, January 17, 2010
Saudi billionaire eyes new links with News Corp.
CAIRO — A Saudi billionaire whose investment firm is one of the biggest stakeholders in Citigroup and News Corp. says he is looking to expand alliances with the media giant.
Prince Alwaleed bin Talal, who was listed last year by Forbes as the world’s 22nd richest person, met with News Corp.’s chief executive Rupert Murdoch on Jan. 14.
A statement issued Saturday by Alwaleed’s Kingdom Holding Co. says the meeting “touched upon future potential alliances with News Corp.”
Kingdom Holding said Alwaleed is the second largest stakeholder in News Corp. with a 5.7 percent stake in the media company.
Media reports have discussed the possibility that News Corp. would buy a stake in Alwaleed’s Rotana Media Services, but neither company has yet to comment.
