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Murdoch and News Corp Aligning with Muslim Brotherhood

Comment: The business deals between Prince Alwaleed and News Corp continue to proliferate. Gruppenfuhrer Murdoch has bought a significant stake in Saudi media group Rotana, controlled by Muslim Brotherhood fellow traveler Prince Alwaleed. (Alwaleed does fund raisers for the Brotherhood’s Palestinian branch, Hamas, and has contributed money to the Council on American-Islamic Relations [CAIR], which is closely associated with the Brotherhood. Right: Hamas soldiers saluting.)

“News Corp Buys $70M Stake in Saudi Group” by Lina Saigol and Andrew Edgecliffe-Johnson; Financial Times; 2/22/2010

Rotana Media, the broadcaster and music group owned by Saudi billionaire investor Prince Alwaleed bin Talal, said it had agreed to sell a $70m stake to News Corp, Rupert Murdoch’s global media empire.

Rotana said on Tuesday that News Corp had agreed to buy a 9.09 per cent stake with an option to take this up to 18.18 per cent.

The move will mark News Corp’s most significant investment so far in the Middle East, where faster GDP growth, a young population and maturing advertising markets have begun to draw US and European media groups facing slow growth in their home markets.

”This is a qualitative leap not just for Rotana but for the whole Arab world,” Prince Alwaleed told a press conference. ”We are set to gain deep experience from News Corp … on television, movie production and technology,” he said. ”They own MySpace … We can learn from this, the new media field.”

The acquisition will also tie the Murdoch family closer to one of their most important shareholders.

Prince Alwaleed’s Kingdom Holdings owns 7 per cent, or 56m shares, of News Corp’s class B stock and is the largest shareholder outside the Murdoch family.

The prince is not on News Corp’s board of directors, but last month anointed James Murdoch, head of News Corp’s European and Asian operations, as his father’s eventual successor. . . .

Discussion

2 comments for “Murdoch and News Corp Aligning with Muslim Brotherhood”

  1. […] agency or if it was his own thing. Unless it was somebody else’s? We must never forget that Prince Alwaleed from Saudi Arabia, who is an Islamist linked to the Muslim Brotherhood, is the second largest […]

    Posted by Rupert Murdoch and News of the World: Was he running his own intelligence service? | lys-dor.com | July 24, 2011, 6:16 pm
  2. It looks like the breakup of News Corp. into separate news and entertainment companies will have a particularly unsettling consequence: The restructured news company will be debt free, and that means Rupert gets to go on a newspaper buying spree:

    Tribune Said to Seek Bankers for Newspaper Sale
    By Edmund Lee & Serena Saitto – Dec 11, 2012 11:41 AM CT

    Tribune Co., the bankrupt owner of the Chicago Tribune, Los Angeles Times and six other daily newspapers, is interviewing bankers about selling its papers, according to two people with knowledge of the matter.

    Tribune Co. is seeking an adviser for a possible sale after the company exits bankruptcy, which is slated to happen by Dec. 31, according to the people, who asked not to be named because the discussions are private. Rupert Murdoch, chairman and chief executive officer of News Corp. (NWSA), plans to take a close look at Tribune Co.’s newspaper assets once they’re available, according to a person with direct knowledge of his thinking.

    FCC Approval

    In November, Tribune Co. won approval from the Federal Communications Commission to transfer its television and radio licenses to new owners — including JPMorgan Chase & Co. (JPM), and hedge funds Oaktree Capital Management LP and Angelo, Gordon & Co. — the last hurdle to emerging from bankruptcy.

    U.S. Bankruptcy Judge Kevin Carey accepted Tribune’s proposal to divide ownership of the newspaper and television company among its lenders in July.

    Murdoch, 81, has expressed interest internally at looking at some of Tribune’s bigger-market newspapers, according to one of the people. News Corp. is splitting into two companies, with one focused on entertainment and the other on newspapers and publishing. The new publishing company, which will start off with a debt-free balance sheet, may give Murdoch more latitude to pursue newspaper acquisitions, the person said.

    Posted by Pterrafractyl | December 12, 2012, 8:08 am

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