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Prince Alwaleed Meets Rupert Murdoch in New York

November 20, 2013

HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) and Rotana Group met with Mr. Rupert Murdoch Executive Chairman of News Corporation (News Corp.)  who also serves as Chairman and CEO of 21st Century Fox, the media and entertainment company created by the separation. The meeting was held at the company’s headquarters in New York. The meeting was also attended by Mr. Shadi Sanbar, KHC’s Executive Director and CFO and Member of the Investment Committee, Ms. Heba Fatani, Senior Executive Manager, Corporate Communications Department, Dr. Nahla Nasser Alanbar, Private Executive Assistant to HRH the Chairman Mr. Naief Hussam Alzuhair, Manager, Website and Social Media and Mr. Fahad Bin Saad Bin Nafel, Executive Assistant to HRH the Chairman.

 

The meeting began as Prince Alwaleed and Mr. Murdoch discussed economic and investment issues especially in the media sector. Moreover, the meetings touched upon the relationship between KHC and News Corp/21st Century Fox as Prince Alwaleed has 7% (voting shares) through KHC in News Corp/21st Century Fox and KHC is 95% owned by Prince Alwaleed, who is the second largest shareholder in News Corp/21st Century Fox after the Murdoch family. 21st Century Fox owns a 19% stake in Rotana.

 

Rotana, which is majority owned by Prince Alwaleed, operates one of the largest TV networks and ad sales operations in the region and owns the largest Arabic film library. It has also built the leading record label in the Middle East, managing many of the most popular artists in the region and controlling the biggest Arabic music catalogue.

 

In 2012, Prince Alwaleed received at his office in Riyadh Mr. James Murdoch, (currently) Deputy Chief Operating Officer and Chairman and CEO, International 21st Century Fox. In the same year, Prince Alwaleed met with Mr. Rupert Murdoch, at Newscorp’s headquarters in New York. Furthermore, Rotana board members met with Mr. James Murdoch at The Plaza Hotel in New York.

 

In 2010, Prince Alwaleed met with Mr. Rupert Murdoch at the company’s headquarters in New York. In 2009, Rotana and Fox International Channels (FIC), the international television channels arm of Rupert Murdoch’s News Corporation announced that viewers in the Middle East and North Africa region will have access to more of the world’s best family entertainment after signing a multi-year output deal with The Walt Disney Company – Europe, Middle East and Africa. This collaboration provided a compelling proposition to Rotana’s bouquet of offerings to viewers and the trade community across the Middle East region.

 

Furthermore in 2008, Mr. James Murdoch visited Riyadh to meet with Prince Alwaleed. During his trip, Mr. James Murdoch visited Rotana offices, various KHC local projects, and the Saudi Research and Marketing Group (SRMG).

 

KHC acquired 29.9% share of SRMG. The publications that fall under SRMG include Asharq Al Awsat, Al Eqtisadiah, Arab News, Hia magazine, Al Majalla magazine, Arrajol magazine and Sayidati magazine. In addition, other entities that fall under SRMG are Al Khaleejiya for Publicity Advertising and Public Relations and Al Madina Printing and Publishing Company.

 

Moreover, in 2008 Prince Alwaleed was received by Mr. Rupert Murdoch at the company’s headquarters in New York during a business luncheon. In 2005, HRH announced his support for Murdoch by converting KHC’s non-voting shares to voting shares in Newscorp.