Saudi Prince alWaleed bin Talal, a key ally of Rupert Murdoch, sold his stake in the 21st Century Fox – leaving the Murdoch family vulnerable to a rebellion from the company’s shareholders.
One of the richest man in the world, Prince alWaleed owned 6% of Fox through investment firm Kingdom Holding at one point. A shareholder in various Murdoch companies including Fox, News Corp, Times and Wall Street Journal, the Saudi prince has consistently backed the Murdoch family into keeping the controlling share. He even publically supported Murdoch after the phone-hacking scandal at the News of the World in 2011.
It is not clear why he sold the stake or to whom. The sale represents the loss of an ally for the Murdochs and adds an extra twist to reports this week that Fox held talks with Disney about selling most of the company.
The Murdochs control about 39% of the voting rights in Fox, giving them control of the key decisions, but own only about 17% of the shares.
Full Content: The Guardian
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
FTC Urged to Enforce Rarely Used Antitrust Law Against Retail Giants
Mar 28, 2024 by
CPI
UK’s Fingleton Bolsters Team with New Additions
Mar 28, 2024 by
CPI
Britain’s Competition Regulator Clears Aviva’s Acquisition of AIG Life UK
Mar 28, 2024 by
CPI
White House Implements New AI Safeguards to Protect Rights and Safety
Mar 28, 2024 by
CPI
Denver Court Sets August Date for Kroger-Albertsons Merger Showdown
Mar 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Real Estate & Antitrust
Mar 27, 2024 by
CPI
Systematic National Evidence of Steering by Real Estate Agents
Mar 27, 2024 by
CPI
Compliance Now! Actionable Antitrust Advice for the Residential Real Estate Industry
Mar 27, 2024 by
CPI
Real Estate Commissions: Some Insights from the Economics of Multi-Sided Platforms
Mar 27, 2024 by
CPI
New Ideas for Promoting Real Estate Brokerage Price Competition
Mar 27, 2024 by
CPI