Farfahinne

(The US backed) Saudi Arabian billionaire prince Al-Waleed Bin Talal now holds more than 85 percent of shares of the Lebanese Broadcasting Corporation satellite television channel (LBCSAT) and the Production and Acquisition Company (PAC), according to An-Nahar daily. The acquisition resulted in an increase in the group's capital, which now stands at $123 million. LBC chairman and Director General Pierre Daher told An-Nahar that the move would yield positive results for the two groups. "The capital increase will strengthen the financial capacity, competitiveness and productivity of the satellite channel," Daher said. "This step comes within a comprehensive plan of five years, and includes all television channels affiliated with Rotana," which is said to currently be the biggest producer and distributor of Arab pop culture. Daher emphasized that there was no risk that PAC or LBC-SAT would lose their Lebanese identity. The acquisition would also benefit the local LBC channel, he said, as the programs produced are distributed to local and international stations. - The Daily Star
now, LBCI became officially spokesperson in the name of the US-backed Saudi Regime in Lebanon....congratulation!