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  • Editor’s Picks / 05 February 2015 at 2:33 GMT

    Saudi prince slashes News Corp shareholding

    Australian Financial Review
    The Saudi billionaire prince who has helped fortify Rupert Murdoch’s control of News Corp has slashed his stake in the media company, leaving the Murdoch family more vulnerable to disgruntled shareholders agitating for a shakeup of the firm. Saudi Arabia’s Kingdom Holding, a News Corp shareholder since 1997, cut its ownership of News Corp class B shares to about 1 per cent, from 6.6 per cent, the investment company announced on Wednesday. Chaired by Prince Alwaleed bin Talal, Kingdom Holding has been one of News Corp’s longest and most loyal shareholders. The Saudi investment firm said it had conducted an “orderly disposal program” of News Corp shares predominantly in the first half of 2014 and completed by the end of the year. Prince Alwaleed Bin Talal, who Forbes estimates is worth $US23 billion, said the reduction in Kingdom Holding’s stake in News Corp was decided in the context of a general portfolio review.
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  • Editor’s Picks / 12 January 2015 at 3:44 GMT

    India's property boom lures foreign investors

    Reuters
    Indian businessman Navin Bhartia's internet habits make him a dream customer for billionaire foreign media moguls like Rupert Murdoch. The 45-year-old from Kolkata likes to buy homes online, sometimes without visiting them, writes Aditi Shah for Reuters. In the past four years, he has bought five properties for 40 million rupees ($641,900) on Proptiger.com, partly owned by Murdoch's News Corp. Foreign investors like Murdoch have already put more than $200 million into portals that help people like Bhartia buy homes. Spurring the interest is Prime Minister Narendra Modi's vow to provide a house to every Indian family by 2022 as the country's growing army of internet users embrace e-commerce.
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