CAIRO – A Saudi billionaire whose investment firm is one of the biggest stakeholders in Citigroup and News Corp. says he is looking to expand alliances with the media giant.
Prince Alwaleed bin Talal, who was listed last year by Forbes as the world's 22nd richest person, met with News Corp.'s chief executive Rupert Murdoch on Jan. 14.
A statement issued Saturday by Alwaleed's Kingdom Holding Co. says the meeting "touched upon future potential alliances with News Corp."
Kingdom Holding said Alwaleed is the second largest stakeholder in News Corp. with a 5.7 percent stake in the media company.
Media reports have discussed the possibility that News Corp. would buy a stake in Alwaleed's Rotana Media Services, but neither company has yet to comment.
The existence of an unfettered media that is free to report on what is happening in our country is absolutely critical to the health of our society. Today, the threat of censorship comes not from a despotic government, but from orders given by corporate owners on high, and from self-censorship due to recent sociological phenomenon such as what is termed "political correctness," a paralyzing fear of offending someone, somewhere by simply speaking truthfully.
Billionaires meet with billionaires to discuss and decide what we plebes will be informed about through their media. Nothing good will come of this trend.