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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. . . .


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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