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Saudi prince euro disney Original Source Link: (May no longer be active)
http://www.wired.com/news/business/0,1367,8770,00.htmlhttp://www.wired.com/news/business/0,1367,8770,00.html
Saudi Prince Grabs Chunk of Netscape, News Corp.
09:55 AM Nov. 25, 1997 PT
Proving that a smart Apple shareholder is a diversified Apple shareholder, Saudi prince al-Waleed bin Talal has expanded his technology and communication holdings, spending more than US$840 million for minority stakes in Netscape, News Corp., and Motorola.
The prince, a nephew of Saudi Arabia's King Fahd, gained a 5 percent stake in Netscape for $146 million; 5 percent of News Corp. for $400 million; and 1 percent of Motorola for $300 million.
"I want to concentrate on communications, technology, entertainment, and news," the prince reportedly told Time magazine for its 1 December issue. "This is the future. News Corp. is the only truly global news and entertainment company. Netscape is strongly involved with the Internet, Motorola is very global in telephones and satellites. These companies are going to play a crucial role."
In April, al-Waleed announced he had purchased a 5 percent stake in Apple. It was his first major investment in a US technology company, and part of a move to diversify his holdings. His $11 billion fortune is concentrated heavily in real estate and entertainment; he owns the Fairmont and Four Seasons hotel chains and has minority stakes in Euro Disney, Saks Fifth Avenue, New York's Plaza Hotel, and London's Canary Wharf development.
The anti-spam crusade: Juno Online Services is the latest big Net player to take legal action to try and stem the tide of spam. The company, which provides dial-up email service to about 3.5 million subscribers, today filed a federal court fraud suit seeking US$1 million in damages from each of five spam churners it accuses of forging Juno email addresses to cover their tracks.
Juno seeks financial compensation for damage to its reputation, and for fraud and trademark infringement. The suit, filed in US District Court in New York City, seeks punitive damages against Strippers Inc. and Phoenix Interactive, both Southern California firms; IMS of Knoxville, Tennessee; Global Information Services of Clearwater, Florida; and Scott Allen Export Sales of Somerset, New Jersey. (25.Nov.97)
Chipmaker subdivides: Microprocessor giant Intel announced a reorganization that will split the company's operations into four divisions, focused on consumer products, business platforms, small business and networking, and digital imaging and video.
"The personal-computer industry is large and growing rapidly. As a result, the industry is splitting up into large segments," said Intel president and COO Craig Barrett in a statement. "We plan to differentiate our products to serve these segments. This organizational adjustment allows us to address multiple market segments more efficiently."
Analysts who track Intel's stock said the move signaled Intel's need to reach beyond its core PC base if it wants to maintain its dominant position in the chip industry. "If anyone ever needed any confirmation of the rather dramatic changes taking place in the personal-computer business, this is it," Drew Peck, an analyst at Cowen & Co., told Reuters. "There is no way Intel would take on such a massive and expensive reorganization unless there was a compelling need." (25.Nov.97)
Goodbye, networks: Digital Equipment is dumping its ailing network products division, in a long-anticipated move. The company is selling the division to Cabletron Systems for US$430 million in cash, stock, and "product credits."
A partnership between the two companies will let Digital continue to sell to its customers a set number of the network unit's products, plus Cabletron products. Digital will also service and guarantee the products it sells. (25.Nov.97)
Reuters contributed to this report.
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