HRH Prince Alwaleed bin Talal bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) attended the inauguration of the Abu Dhabi Media Summit on Tuesday March 9th 2010.

The 2- day Abu Dhabi Media Summit was held at the Yas Hotel under the patronage of HH Sheikh Mohammed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi.  Mr. Rupert Murdoch, Chairman and CEO of News Corporation (News Corp.) gave a keynote speech on the opening day.

The event was attended by HH Sheikh Saif Bin Zayed Al Nahyan, UAE Minister of Interior on behalf of the Crown Prince of Abu Dhabi, HE Muhamed Khalaf al Mazrouei, Chairman, The Abu Dhabi Media Company, and other VIPs and dignitaries, including CEOs of international companies.

The Abu Dhabi Summit is a unique and unprecedented gathering of both global and emerging–market media leaders, aimed at establishing a dialogue at the highest level about the future of television, mobile, online and print media, and digital communications. The aim of the summit is also to define the opportunities and challenges for these various media in addition to investment and marketing including the South Asia, Middle East, China and other global media markets.

Prince Alwaleed’s investments in the media sector through KHC include, approximately 7 percent of Class B Common Stock of News Corporation, and 29.9% share of Saudi Research and Marketing Group (SRMG). The publications that fall under SRMG include Asharq Al Awsat, Al Eqtisadiah, Arab News, Hia magazine, Al Majalla magazine, Arrajol magazine and Sayidati magazine. Furthermore, other entities that fall under SRMG are Al Khaleejiya for Publicity Advertising and Public Relations and Al Madina Printing and Publishing Company. Recently, Rotana Group, announced that Newscorp has reached an agreement to buy a 9.09 percent stake in Rotana Group, the Middle East media group. Under the terms of the agreement, News Corporation will acquire newly-issued shares in Rotana for $70 million. Newscorp has an option to increase its stake to 18.18 percent in the 18 months following completion.