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Israel Bombs TV Network Partially Owned by Billionaire Saudi Prince

Reported by Marie Therese - July 22, 2006 -

This morning, as reported by FOX's Greg Palkot, the Israelis bombed communication towers owned by Lebanese Broadcasting Company (LCBI), one of the four communication providers licensed by the state of Lebanon. In an interesting quirky twist, Prince Alwaleed bin Talal, the billionaire Saudi prince, owns 49% of LCBI. The Prince also owns 4% of News Corporation and is a good friend of Rupert Murdoch, owner of FOX News Channel.

"In 1991 there were no less than 46 TV channels, although not all operational. In 1996, the government decided to regulate the TV-sector and issued broadcasting permits to but 4: LBC International (LBCI), Future Television (FT), Murr TV (MTV) and the National Broadcasting Company (NBN). Critics accused the Hariri government of trying to silence political opponents. Al Manar obtained a permit later that year, while during the brief period Salim Hoss served as Prime Minister in 1998, NTV and IUCN also received a license. Christian channel TeleLumiere does not have a permit, but is tacitly allowed to broadcast. As IUCN is not operational, Lebanon currently boasts 7 active channels, with MTV reopening its doors soon. ... Partly owned by Saudi Prince Walid bin Talal, who for $98 million bought a 49% stake in the company, LBCI employs 550 people fulltime, while hires an additional some 50 part-timers a month." (Source: ExecutiveMagazine.com)