Saudi's Prince Alwaleed buys 49 per cent stake in LBCSat

HRH Prince Alwaleed Bin Talal Bin Abdulaziz alsaud, Chairman of Saudi Arabia's Kingdom Holding Company (KHC) has bought a 49 per cent stake in LBCSAT, the Lebanese based satellite television channel, from Sheikh Saleh Kamel, Chairman of ART. Prince Alwaleed bin Talal attended a ceremony in Adma yesterday to announce the deal with LBCSAT officials.One of the Arab world's foremost entrepreneurs, Prince Alwaleed owns shares through entities for his benefit and the benefit of his family in a number of the world renowned media companies, including a six per cent stake in Rupert Murdoch's News Corporation, a 17.3 per cent share of Disneyland Paris, a stake in Time Warner, another in Walt Disney Company, a 20 per cent stake in the Planet Hollywood chain, Rotana Audiovisual Company, and many shares in a number of Arab newspapers.