Television
×

Saudi Prince sells his stake in Rupert Murdoch's News Corp for $188 million

http://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2015/02/04/Prince-Alwaleed-with-Mr.-Murdoch-Feb-2015-800x579.jpg?itok=v7wjVcSa

MUMBAI: Saudi Arabia’s Kingdom Holding, the investment firm owned by billionaire Prince Alwaleed bin Talal, has sold majority of its stake in Rupert Murdoch's News Corp.

During its portfolio review last year, Kingdom Holding decided to reduce the size of its investment in NewsCorp via an orderly disposal program that was predominantly executed in the first half of 2014 and successfully completed by the end of the year. As a result, KHC has decreased its holding in NewsCorp from 13,184,477 class B shares, representing approx. 6.6 per cent ownership to 2,000,000 class B shares, representing approx. one per cent ownership, generating $188 million dollars.  

However, the company continues to holds its 6.6 per cent share in News Corp’s company Twenty-First Century Fox, worth approximately $1.7 billion at current market prices.

Prince Alwaleed Bin Talal said, “The reduction of KHC’s holding in News Corp has been decided in the context of a general portfolio review. We remain firm believers in News Corp’s competent management, led by CEO Robert Thomson, and are fully supportive of Rupert Murdoch and his family. Our investment in Twenty-First Century Fox, constitutes a solid foundation for our long standing relationship that we expect will endure. Twenty-First Century Fox owns a 19 per cent stake in Rotana Group that I own independently from Kingdom Holding.”

Kingdom Holding CFO Mohammed Fahmy added, “As an actively managed holding company, KHC reviews its portfolio of publicly listed and private investments on a regular basis. Decisions to add, hold, dispose of or reduce particular investments are always considered in the context of the overall portfolio allocation.” 

Kingdom Holding held a stake in Murdoch’s media conglomerate since 1997.

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/07/24/colors.jpg?itok=Gxx74fo4
COLORS Bangla presents a romantic tale of two passionate hearts – Chirodini Ami Je Tomar

MUMBAI: Maybe you don’t find love the way you hoped to, but eventually it finds you in the way you were meant to! One such tale is that of ‘Chirodini Ami Je Tomar’ the new true-blue romantic show by COLORS Bangla, premiering on Monday July 29, 2019, airing from Monday to Saturday at 6:30pm....

Television TV Channels Regional
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/07/24/barc.jpg?itok=BiYo9oX8
Industry gives mixed views on BARC India's decision to separate pay and FTA viewership

BARC India’s decision to split its reportage of pay and FTA viewership has received mixed reviews from the industry. While some believe that this will be beneficial to both broadcasters and advertisers in channelising their resources, others believe that it has no meaningful objective.

Television TV Channels Viewership
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/07/24/ZEE.jpg?itok=QbqjLTJM
ZEEL reports 13.3% YoY growth in total revenue for Q1 FY20

Zee Entertainment Enterprises Ltd (ZEEL) has reported 13.3 per cent YoY growth in total revenue at Rs 20,081 million. The company mentioned domestic broadcast and digital business as the growth driver for strong performance.

Television TV Channels GECs
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/07/23/punit-800.jpg?itok=1pnZCl8S
Punit Goenka on Zee Entertainment stake sale: Have one binding offer, awaiting another

MUMBAI: With speculation rife over the stake sale of Zee Entertainment Enterprises Limited (ZEEL), MD and CEO Punit Goenka on Tuesday suggested that the company was inching closer to ink the high-profile deal.

Television TV Channels GECs
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/07/23/nawaz.jpg?itok=eb6JugLv
Nawazuddin Siddiqui is #ShakenAndStirred by these seductively complex British dramas on television

MUMBAI: Drama is not without conflict. Only when the lines are drawn can they be crossed and only when the rules are understood can they be broken. Bringing stories that will leave you #ShakenAndStirred, Zee Café is back with the third season of its flagship programming block - BBC First – with...

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/07/23/Dabang-Delhi-KC.jpg?itok=v_hmOY3h
Dabang Delhi KC ropes in JK Super Cement as principal sponsors for Pro Kabaddi League Season-7

MUMBAI: Dabang Delhi Kabaddi Club, owned by DO IT Sports Management, today announced its association with JK Super Cement, India’s premier cement brand, which will now serve as the principal sponsor of the team. As part of this partnership, Dabang Delhi players will now sport the JK Super brand...

Television TV Channels Sports
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/07/22/vifwbywb.jpg?itok=B3M6rN1o
Discovery’s first of its kind show 'Capital Police - Beyond the Khaki' captures Delhi Police live in action

Mumbai - Delhi, the capital of India, the second most populous complex megacity in the world buzzing with over 18 million people, is managed by 81,000 personnel of Delhi Police. In a first of its kind television series, ‘Capital Police - Beyond the Khaki’, scheduled to premiere on 23rd July at 9 PM...

Television TV Channels Factual @ Discovery
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/07/22/zeecafe.jpg?itok=S7IlVqLk
It’s time to go ‘Back To The Future’ and meet your favourite Shel-Bot as Zee Café airs The Big Bang Theory Season 11 and Season 12

MUMBAI: A white board filled cryptic algorithms, a couch with a reserved spot and a bunch of math geeks with a gorgeous neighbour next door – The Big Bang Theory is one show that has truly had us hooked for twelve straight seasons! Still coming to terms with the end of an era as the series reached...

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/07/22/arun.jpg?itok=y8--4EqL
A+ E Networks | TV18 elevates Arun Thapar to president - content & communication

MUMBAI: A+E Networks | TV18 has promoted Arun Thapar as President - Content & Communication. In his new role, Thapar will additionally manage Brand Marketing, Digital, and Branded Content of A+E Networks | TV18 along with his current portfolio of Content Strategy Management, Creative and...

Television TV Channels People

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories