Right wing Saudi dynasty endorses right wing FOX News dynasty
This week, Prince Alwaleed bin Talal al-Saud of Saudi Arabia — the largest shareholder of News Corp outside the Murdoch family — endorsed Rupert Murdoch’s son James to succeed the elder Murdoch when he retires. Alwaleed, King Abdullah’s nephew, is Saudi Arabia’s richest person and the world’s 22nd wealthiest (Murdoch is number 132). He holds large stakes in many American companies, including Citi. The prince met with Murdoch last week to discuss a “future potential alliance with News Corp,... Right-wing Saudi dynasty endorses right-wing Fox News dynasty.
Now normally I'd say there is nothing inherently (no pun intended), wrong with a majority shareholder in a corporation endorsing a possible successor to head a large company like News Corp. However, in light of this weeks US Supreme Court ruling in Citizens United v. FEC, it will now be possible for foreign investors that hold large positions in US corporations to influence and spend corporate money on US elections. I'm not sure if FOX is a US corporation, but is most certainly the case that Citi is a US corporation.
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