Saudi Prince stands by News Corp leadership, investment

By REUTERS
July 21, 2011 01:39

 
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JEDDAH, Saudi Arabia - Saudi billionaire Prince Alwaleed bin Talal said on Wednesday he believes that News Corp will emerge from the current crisis and that he does not plan to sell any of his shares in the company.

Alwaleed told Reuters that he believes that News Corp's leadership should not change.

Asked whether News Corp should bid again for the BSkyB shares it does not already own, he said the company should "put its house in order" before looking at other investment moves.

Alwaleed says his Kingdom Holding is the second biggest shareholder in News Corp and controls 7 percent of the votes.

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