Tweeting has never been better for Saudi Prince's Twitter investments
Kingdom Holding Company and its Chairman Prince Alwaleed Bin Talal’s combined investment in Twitter increased to 200 percent on the first day of trading, a company statement said Sunday.
Alwaleed said: “Twitter is the most prominent social media network in the world and our investment in the company is a strategic long-term investment.”
In 2011, Alwaleed and KHC announced a combined investment in Twitter. This investment was the result of several months of negotiations and comprehensive due diligence and represent a strategic stake in Twitter.
Alwaleed has a strong presence and influence in media through his investments in media and entertainment in the Arab world, and beyond like the Saudi Research and Marketing Group (SRMG), in which Kingdom Holding holds a 29.9 percent stake.
Furthermore, KHC is owner of approximately 7 percent of 21st century Fox Class B Common Stock.
Rotana, which is majority owned by Alwaleed, operates one of the largest TV networks and ad sales operations in the region and owns the largest Arabic film library. It has also built the leading record label in the Middle East, managing many of the most popular artists in the region and controlling the biggest Arabic music catalogue. Moreover, 21 Century Fox owns 19 percent stake in Rotana.
Rotana Group is a diversified media company in the Middle East. It is the world’s largest producer of Arabic music and a key distributor and producer of Arabic movies with a library comprising more than 1,600 movies.
Rotana also owns a bouquet of leading free-to-air TV channels including LBC Group, Cinema, Khalijiyah, Masryiah, Clip and Musica broadcasting the latest Arabic movies, series and music videos globally. Furthermore, Rotana has radio stations, a chain of cafes and its own magazine. It also operates a leading regional advertising sales arm (Rotana Media Services), responsible for advertising sales on its TV channels as well other media businesses in the region. Rotana’s content is also digitally distributed globally.
21 Century Fox had total assets as of June 30, 2011 of approximately $62 billion and total annual revenues of approximately $33 billion. 21 Century Fox is a diversified global media company with operations in six industry segments: cable network programming; filmed entertainment; television; direct broadcast satellite television; publishing; and other. The activities of 21 Century Fox are conducted principally in the United States, Continental Europe, the United Kingdom, Australia, Asia and Latin America.
- Impetus from within: why the Arab World needs a very Arab 'Marshall Plan'
- 'Fiscal juggling': just how many economic priorities will Saudi Arabia's new King have to focus on?
- Despite Erdogan's 'harsh rhetoric', Turkish-Israeli is still booming
- UAE is best MidEast economy for attracting talent, index says
- The Arab Spring's success story: what will it take for Tunisia to unlock its full economic potential?