Word: murdoch
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Dates: during 1990-1999
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...panicking]. But I think the stock market is going to go up and up." So far, he's been right. He bought big, but he also bought big names. Alwaleed told TIME that he now owns about 5% of News Corp., the global media conglomerate run by Rupert Murdoch, making him the second largest individual holder, behind Murdoch. Alwaleed also bought some 5% of Web-browser maker Netscape Communications, and a chunk of chip and cell-phone maker Motorola. The fourth finalist, another well-known American company, according to the prince, is still being bought...
Unlike his prior, mostly passive investments in Citi, Apple Computer and Disneyland Paris, this time Alwaleed is buying with an intent to take a more active hand with management. Murdoch might find that interesting. He also might find himself with a like-minded partner. Alwaleed is a global thinker, and in the media business, nobody is more global than Murdoch. The prince apparently hopes that entrenching himself in high-tech media-related outfits may help make him a king of communications in the Middle East--or, in due course, an emperor like Murdoch. Says Alwaleed: "I want to concentrate...
Where does this Arabian Warren Buffett think of investing next? East, it seems. His investment in News Corp. is based on a hunch that Murdoch's empire can grow by leaps and bounds in Asia. Says the prince: "Liberalization of media and entertainment in China and India will have a tremendous boost on News Corp. shares." Motorola is already in China. Earlier this year, Alwaleed made a 15-nation scouting trip through Asia and placed his first direct investment, taking a piece of the Shanghai Trade Center, which will be the tallest skyscraper in the world when it is finished...
...Waleed has purchased 5 percent of Rupert Murdoch's News Corp. for $400 million, 1 percent of Motorola Inc. for $300 million and a 5 percent share in Netscape for $150 million. The Prince is already worth $12 billion, and Tuesday's deals will probably net him another sizable chunk of the world's wealth. Maybe he's saving up for a presidential coffee klatch...
...Sony chief is spinning deals with Microsoft. Last April, Microsoft paid $425 million for WebTV Networks Inc., an Internet software provider that uses Sony hardware. IBM's Lou Gerstner could be a key partner in shaping a future DVD format. In May, through Idei's personal connections with Rupert Murdoch, another Sun Valley buddy, Sony announced it would cooperate with News Corp., Fuji Television Network and Softbank, the Japanese company that owns Ziff-Davis and the comdex computer shows, in a venture to start JSkyB, a 150-channel satellite broadcasting service in Japan...