Wednesday, August 25, 2010

Fox News says: Follow the money-- wait, no, not that way!

In case you didn't see this elsewhere, when the Daily Show ends up doing actual reporting, it's pretty brilliant. Basically, Fox News is characterizing the Park51 project near ground zero as ill-intentioned because it has the financial backing of the Kingdom Holding Company, who they paint as anti-American. But the Kingdom Holding Company's owner is Saudi Prince Al-Waleed bin Talal, AND is the second-biggest shareholder in News Corp., owner of Fox News. Hilarity ensues:

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Here's the Wikipedia entry on Al-Waleed bin Talal, an interview with him from Bloomberg/Businessweek, and a Forbes article from 2005, when bin Talal increased his stake in News Corp. (he was at the time at least #3 shareholder, perhaps lower) and voiced his confidence in Rupert Murdoch.

Update: Daily Finance was all over this connection a week ago, before Fox started specifically name-checking their co-owner's company.

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