Darrell Issa (R-CA) Indicates Openness To Probing Saudi Ownership Stake in Fox News

Top Republican investigator, Darrell Issa (CA) indicates openness in probing Saudi Prince Alwaleed bin Talal's stake in Fox News.

Well, what do you know, Fox News just got in a king sized bed with the Saudis. According to Financial Times, Rotana Media, the broadcaster and music group owned by Saudi billionaire investor Prince Alwaleed bin Talal has agreed to sell a $70 million to News Corp. The global media empire, headed by Rupert Murdoch, agreed to purchase a 9.09 percent stake with an option to purchase up to 18.18 percent.  This is News Corp.'s largest foray so far in the Middle East and it has caught the attention of an elected official, namely Rep. Darrell Issa (R-CA). who serves as the top Republican investigator as the ranking member on the House Oversight Committee.

The love affair between Murdoch and the Saudis have gone on for quite some time. Prince Alwaleed's Kingdom Holdings owns seven percent of News Corp.'s class B stock and is the largest shareholder outside the Murdoch family, according to the Financial Times. This is all very interesting. Talk about fair and balanced.

Issa told Think Progress that said he was troubled in particular by foreign investors buying up American broadcasting companies. Prince Alwaleed is also a major shareholder in Citigroup and his Kingdom Holdings is the parent of the Four Seasons Hotel chain.

Here's the exchange with Think Progress during CPAC: