“Alwaleed owns the largest chunk of News Corp. stock outside the Murdoch family. Shortly after his purchase of 5.5 percent of News Corp. voting shares in 2005, Alwaleed gave a speech that made it clear just what he had bought. As noted in The (U.K.) Guardian, Alwaleed told an audience in Dubai that it took just one phone call to Rupert Murdoch — “speaking not as a shareholder but as a viewer,” Alwaleed said — to get the Fox News crawl reporting “Muslim riots” in France changed to “civil riots.””
The term "co-owner" generally refers to a person who holds a 50% share in a business entity, or at least a share comparable to that of the other largest stakeholders, but Al-Waleed does not qualify on either count. According to news accounts, Prince Al-Waleed's investment firm, Kingdom Holding Company, holds a 6.6% stake in 21st Century Fox, the parent corporation of the Fox News Group (which includes the Fox News Channel and the Fox Business Network) — a sizable chunk, but far from a controlling or co-controlling interest in the company.