Prince Alwaleed: "We are launching Al Risala channel to the world as a beacon for true Islam"
HRH Prince Alwaleed bin Talal bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company participates in the Arab and World Media Getting It Right, the Arab Thought Foundation's 4th Annual Conference on Arab and World Media in Dubai on Monday, 5th December 2005.
At the conference, His Highness engaged in a wide-ranging panel discussion during a 20 question interview conducted by Mr. Jim Kelly, managing Editor of Time magazine and Mr. Khaled Al Maeena, Editor-in-Chief of Arab News. The topics focused on the role and future of the media and media investments in the light of the Prince's major investments and influence in the media field. "Despite the misperception sometimes portrayed in the media [about Islam and the Arab world], we can change things instantaneously with a single phone call," said Prince Alwaleed. "We are launching Al Risala channel to the world as a beacon for true Islam."
The discussion touched upon the issue of Arab-American relations, which His Highness said was good, although he pointed to the "double standard" where Israel is concerned.
On the topic of economy and investment, Prince Alwaleed mentioned the Custodian of the Two Holy Mosques King Abdullah initiatives and Saudi Arabia joining the World Trade Organization (WTO) which the Prince said is causing an economic boom in the country.
Concerning the issue of reform in the Arab world, the Prince said "There is a widespread, major reform movement all over the Arab world, but we want it indigenous, from within ourselves, not from the outside." His Highness also referred to the current situation in Iraq.
The interview was conducted in the attendance of world leaders, high profile dignitaries, editors-in-chief, news casters and celebrities and top journalists in print, television, radio and the Internet.
The Opening Ceremony was inaugurated by HH Sheikh Mohamed Bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Minister of Defense. The opening remarks were given by HRH Prince Khalid Al Faisal, the Governor of Asir Region and President of the Arab Thought Foundation.
Other dignitaries who participated during the event include, Her Majesty Queen Rania of Jordan, HRH Prince Bandar bin Khalid Al-Faisal Al-Saud and Amr Moussa, Secretary General League of Arab States, HRH Prince Faisal bin Salman, Chairman and CEO of Saudi Research & Marketing Group and Ghazi Mashal Ajil al-Yawer, current Vice-President of Iraq, President of Iraq under the interim Government (2004-2005).
Prince Alwaleed has investments in media, locally, nationally and internationally which have been acquired and are held by His Royal Highness or by Trusts for the benefit of His Royal Highness and his family, include the following:
1995: The purchase of 25% of Rotana Audio Visual Company, the largest Saudi recording label with the top 100 Arab artists. In 2002, the stake was increased to 48%, and in 2003 to 100%. The same year saw the conversion of ART Music Channel to Rotana Music Channel, a 24-hour free-to-air channel beaming the latest Rotana video clips.
1993: Investment in LBC Sat. In 2003 a 49% acquisition of LBC Sat was completed.
1997: Investment of $400 million acquiring 5% of the preferred shares of News Corp., which encompasses Harper Collins, The Sunday Times-UK, Fox News, Sky, Star TV and many more. In 1999, the investment was raised to $600 million.
-Ends-
For further information please contact:
Kingdom Holding Company
Tel: 966 1 211 1111
© Press Release 2005
