Dead Man Walking
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01/17/2010 10:00 AM
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Report Copyright Violation | Prince Alwaleed holds alliance talks with Rupert Murdoch [ link to www.bi-me.com] SAUDI ARABIA. Saudi billionaire investor Prince Alwaleed bin Talal met this week with News Corp. Chairman and Chief Executive Rupert Murdoch to discuss investments, including Rotana Media, the Wall Street Journal reported, citing a statement from the prince's office released on Saturday.
The meetings which took place in New York on January 14, "touched upon future potential alliance with News Corp.," the statement said, adding that Rotana and LBCSAT, the lebanese popular regional channel which is 90% owned by Prince Alwaleed, were discussed.
The statement from Prince Alwaleed's office gave no further details of a potential deal.
The WSJ reported in December that Rupert Murdoch's News Corp was in talks with Prince Alwaleed bin Talal to buy a 20% stake in Rotana Media, citing people familiar with the deal.
Rotana, one of the largest media groups in the region, which hosts News Corp.'s Fox channels in Saudi Arabia via its television network, owns rights to more than 2,000 Arabic movies and the world's largest Arabic language music library including Egyptian pop star Amr Diab and Lebanese divas Elissa and Haifa Wehbe..
Fox Movies and Fox Series were both launched in the region following a strategic partnership between Fox International Channels and Rotana in 2008.
Shares in Kingdom Holding majority owned by Prince Alwaleed, rose 10% on the Saudi Tadawul exchange on Saturday. |
