Alwaleed Is ‘Confident’ in Murdochs as News Corp. Besieged by Hacking Case

[dipsydoodle]

Source: Bloomberg

Kingdom Holding Co. (KINGDOM)’s Prince Alwaleed bin Talal Al Saud, one of News Corp.’s largest shareholders, remains “both supportive and confident in the leadership of Rupert and James Murdoch,” he said in an e-mailed statement today.

Alwaleed “fully” supports the U.K. lawmakers’ hearings into the phone-hacking scandal at News Corp.’s News of the World as “part of a necessary process to address the unacceptable practices that developed at the now closed News of the World,” the statement said.

Read more: http://www.bloomberg.com/news/2011-07-20/alwaleed-is-confident-in-murdochs-as-news-corp-besieged-by-hacking-case.html

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News Corp. Shareholder Prince Alwaleed Restates Support For Murdochs.

Prince Alwaleed bin Talal, a significant News Corp. shareholder and a billionaire investor, issued a statement Wednesday supporting both James and Rupert Murdoch as well as the hearings that took place in the U.K. parliamentary committee on Tuesday.

http://blogs.forbes.com/kerryadolan/2011/07/20/news-corp-shareholder-prince-alwaleed-restates-support-for-murdochs/

[Journeyman]

1. Natch. He's a major investor. Economic suicide for him to do otherwise today. . .

Give him awhile, however. Let the market continue its incessant downward pressure and, presto change-o, alakazam -- the Prince turns into a common money grubber and begins to sing a different tune.

[louslobbs]

2. But of course he does, the rich and powerful always stick together to protect each other, that is

until the evidence mounts and is so powerful against even one of their own, that they start to scatter like Kochroaches when a light is turned on. There is no real honor among the top 2% of thieves, liars, cheats, pillagers and rapists.
Lou

[Uncle Joe]

3. In related news, Mussolini supports Hitler.

Thanks for the thread, dipsydoodle.

[peace frog]

4. ..he said publically, as he privately resolved

to dump the Murdochs when they became too toxic to survive the calamity.

[Gregorian]

5. "Holds 7% of the stock of News Corp.". What else does one need to know?

It's all about protecting one's investment. News? What news? It's business.