Prince Al-Walid Acquires 10% Of Lebanese Newspaper
Prince al-Walid ibn Talalibn 'Abd al-'Aziz has acquired a 10% stake in one of the leadingLebanese daily newspapers, al-Nahar, for $10mn. The acquisition was made through acapital increase with no contributions from the original shareholders. Prior tothe acquisition, the newspaper was owned 40% each by the Tuwainifamily and Lebanese Prime Minister Rafiq al-Hariri and 20% by the Greek Orthodox Church. Following...