James Murdoch, Alwaleed discuss media ties
Riyadh, January 24, 2008
James Murdoch, chairman and CEO, Europe and Asia, News Corp; and chairman of Kingdom Holding Company (KHC) Prince Alwaleed bin Talal discussed economic and investment issues especially in the media sector at a meeting in Riyadh recently.
James, son of Rupert Murdoch, chairman and CEO of News Corp, was on a four-day visit to Riyadh on an invitation from Alwaleed.
The meetings touched upon future potential collaboration with News Corp and KHC. Alwaleed has a 5.7 per cent (voting shares) in News Corp and is the second largest individual shareholder in the company through KHC.
He owns 100 per cent of Rotana Audiovisual that has a portfolio of more than 100 stars from the entire MENA region and a TV network has been launched in 2003 and expanded at a very fast pace to include today a bouquet of 6 free-to-air TV channels: Rotana Mousica, Rotana Clip, Rotana Tarab, Rotana Khalijiyya, Rotana Cinema and Rotana Zaman. Rotana also owns a library comprising more than 2000 Arabic movies, Rotana magazine and Rotana Café in Beirut, Damascus and Cairo.
Murdoch was given a tour of Rotana offices, KHC’s projects and associates head quarters in Riyadh that included Hyper Panda Mall, Kingdom Schools, Kingdom City Kingdom Hospital, Kingdom Foundation and National Industrialization (Tasnee).
Murdoch visited the Saudi Research and Marketing Group (SRMG). KHC acquired 29.9 per cent share of the Saudi Research and Marketing Group (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.
Other entities that fall under SRMG are Al Khaleejiya for Publicity Advertising and Public Relations and Al Madina Printing and Publishing Company. – TradeArabia News Service