Article

2015-02-05 Arabia

Billionaire Alwaleed Sells $190 Million News Corp Stake

[Bloomberg] Saudi billionaire Prince Alwaleed Bin Talal's investment firm sold a stake valued at almost $190 million in News Corp., reducing its holding in Rupert Murdoch's media company to about 1 percent.

"The reduction of KHC's holding in News Corp. has been decided in the context of a general portfolio review," Alwaleed said in a statement on Kingdom's website.

A response to the Magic Kingdom's reduced cash flow since the price of oil fell 50%?

Posted by trailing wife 2015-02-05 00:00|| || Front Page|| [12 views ] Top

#1 Perhaps a move to the failing All-Jews network.

Posted by Skidmark 2015-02-05 03:26|| 2015-02-05 03:26|| Front Page Top

#2 Streaming is killing Murdoch's broadcast pay tv businesses. They have just halved the price here in Oz.

Posted by phil_b 2015-02-05 04:18|| 2015-02-05 04:18|| Front Page Top

#3 The Prince needs the cash for the Jeddah Tower project. This is a 3000' building on the north side of the city which is to be part of a development district.

Foundation was completed in 2014. The main vertical work is underway. The financing of this is murky and the development logic even murkier but the Prince is certainly putting many hundreds of millions into it.

Posted by lord garth 2015-02-05 07:28|| 2015-02-05 07:28|| Front Page Top

#4 Did he pay $1b for it like the NYT buying the Boston Globe back in 1993? 'Cause that would be funny...

Posted by Raj 2015-02-05 15:22|| 2015-02-05 15:22|| Front Page Top

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