Prince Alwaleed & Kingdom Holding Company Make a $300 Million Investment in Twitter
What might be worrisome for Arab online activists that Twitter might collaborate with Arab oppressive regimes after Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, and Kingdom Holding Company (KHC), announced today, Monday, December 19th 2011, a combined investment of $300 Million in Twitter.
Prince Alwaleed has a strong presence and influence in media through his investments in entertainment and media entities in the Arab world, and beyond, such as the Saudi Research and Marketing Group (SRMG), in which Kingdom Holding holds a 29.9% stake. The publications that fall under SRMG include Asharq Al Awsat, Al Eqtisadiah, Arab News, Hia magazine, Al Majalla magazine, Arrajol magazine and Sayidati magazine. Furthermore, other entities that fall under SRMG are Al Khaleejiya for Publicity Advertising and Public Relations and Al Madina Printing and Publishing Company. KHC is also owner of approximately 7 percent of News Corporation’s Class B Common Stock.
In February 2010, Rotana Group announced that Newscorp had reached an agreement to buy a 9.09 percent stake in Rotana Group.
Under the terms of the agreement, News Corporation will acquire newly-issued shares in Rotana for $70 million. News Corp. has an option to increase its stake to 18.18 percent in the 18 months following completion.
In addition, Prince Alwaleed recently announced his plans to launch his privately owned Alarab news channel. The news channel will be managed by Mr. Jamal Khashoggi.