Sunday, September 25, 2005

Rupert's Angel 

No man is a failure who has friends:
Saudi Prince Al-Waleed bin Talal has purchased 5.46 percent of the Fox corporation, according to Gulf Daily News, raising concern that the conservative Fox News may soften its anti-terror stance due to the views of the new shareholder.

Al-Waleed, the nephew of the late Saudi King Fahd, was in the news when he visited the World Trade Center's remains just after the September 11th attacks and offered then-New York City Mayor Rudy Giuliani a $10 million check for relief efforts. Al-Waleed then released a statement blaming US foreign policy and support for Israel for the attacks.
Mr. Giuliani rejected the check. The following year, by way of contrast, a $500,000 donation to the George Herbert Walker Bush Scholarship Fund, established by the Philips Academy in Andover, MA, was gratefully accepted. (Did we mention that Prince Al-Waleed bin Talal has been a prominent client of the Carlyle Group?)

Variety reports that the prince's increased stake in NewsCorp and his shift from nonvoting to voting stock are part of a strategy to immunize good buddy Rupert Murdoch against a possible raid by John Malone of Liberty Media.

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