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easymoney101

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easymoney101

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Re: None

Tuesday, 09/27/2005 2:58:30 PM

Tuesday, September 27, 2005 2:58:30 PM

Post# of 472952
Prince Takes Stake in Faux Snooze
Saudi prince takes News Corp stake
By Saeed Shah
Published: 07 September 2005
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.

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.

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.

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."

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.

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.

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.

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.
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."

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.

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"All truth passes through three states," wrote Arthur Schopenhauer. "First it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident."
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