News Corp.'s (NWS Quote) Rupert Murdoch has a pal in Saudi Arabia.
Famed investor Prince Alwaleed bin Talal has raised his voting stake in the New York media giant to 5.46% and reaffirmed his support for Murdoch. The news comes as Murdoch is on less affectionate terms with another big shareholder, Liberty Media (L Quote) Chairman John Malone.
News Corp. has had to contend with a tricky situation as Malone, a longtime shareholder in the owner of the Fox broadcast network and other media assets, last fall quietly doubled his voting stake to 18%. In return, News Corp. adopted a poison pill provision that the company extended last month, saying it will maintain the restrictions on big shareholdings until the Liberty standoff is resolved. ...
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