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.
6.6% gets you a seat on the board of directors.
And apparently the power to call the CEO and demand reporting guidelines change to suit your own desires.
It’s a very cozy relationship. They’re hardly strangers who only see each other at annual society functions.
http://www.dailyfinance.com/2010/08/16/news-corp-the-saudi-prince-and-the-ground-zero-mosque/