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Murdoch Ally Prince Alwaleed Bin Talal Sells 21st Century Fox Stake
Rupert Murdoch ally Prince Alwaleed Bin Talal has sold his stake in 21st Century Fox – a major blow to Murdoch ahead of Fox’s annual meeting next week.
Prince Alwaleed has previously owned up to 6% of Fox and was one of the top owners of Fox’s Class B shares, which came with voting rights.
However, according to Bloomberg data shows that he sold his stake by the end of last financial quarter. This came after he reduced his stake to 4.98% in December 2015. Prince Alwaleed owned the shares through his investment firm Kingdom Holdings.
It’s not known who he sold his shares to or exactly when. Prince Alwaleed was arrested by Saudi authorites last week as part of an anti-corruption crackdown.
The move comes ahead of Fox’s annual meeting next week where Murdoch and his sons will face questions over the ownership structure of the company.
The Murdochs own around 39% of the voting rights
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Saudi prince who called for reforms dies at 87
FILE - In this Feb. 24, 2010 file photo, Saudi Prince Talal bin Abdelaziz, left, receives Queen Rania of Jordan during the opening ceremony of the Arab Open University, Jordan branch, in Amman, Jordan. Abdulaziz, a senior member of the royal family who supported women's rights and once led a group of dissident princes, has died at the age of 87. Prince Talal was an older brother to King Salman and the father of businessman Prince Alwaleed bin Talal. The royal court said prayers for Prince Talal, who died on Saturday, will be held in Riyadh on Sunday, Dec. 23, 2018. (AP Photo/Nader Daoud, File)
RIYADH, Saudi Arabia – Prayers were held Sunday for Prince Talal bin Abdulaziz, a senior member of the royal family who supported women's rights and once led a group of dissident princes, who died at the age of 87.
Prince Talal was an older brother to King Salman and the father of businessman Prince Alwaleed bin Talal. He is the son of the fo