FRANCE: Saudi Arabian Prince and Michael Jackson announce show business joint venture, Kingdom Entertainment

Record ID: 226988

  • Title: FRANCE: Saudi Arabian Prince and Michael Jackson announce show business joint venture, Kingdom Entertainment
  • Date: 19th March 1996
  • Summary: PARIS, FRANCE (MARCH 19, 1996) (REUTERS) FANS OUTSIDE JACKSON'S HOTEL JACKSON COMING OUT OF HOTEL / ENTERING CAR ON HIS WAY TO NEWS CONFERENCE
  • Embargoed: 3rd April 1996 13:00
  • Keywords:
  • Location: PARIS, FRANCE
  • Country: France
  • Topics: Entertainment
  • Reuters ID: LVAC6B35CUOBF2SB2B9KJK013UQW
  • Story Text: The Prince and the Pop star got together on Tuesday (March 19) to announce a multi-million dollar show business joint venture.
    The team, Saudi Arabia's richest investor Prince al-Waleed bin Talal and American pop star Michael Jackson, held a press conference in Paris to announce details of the deal.
    The billionaire prince said the business would be called Kingdom Entertainment.
    The name comes from Kingdom Establishment, the prince's main investment vehicle through which he has amassed a business empire that includes banks, theme parks, telecommunications, hotels and other property throughout the world.
    One of their first joint activities would be sponsoring Jackson's world "History Tour", he said.
    Prince al-Waleed bin Talal said Kingdom Entertainment planned to pursue investments and development projects in a wide range of entertainment activities including animation, theme parks, theme restaurants, character licensing, television programming, motion pictures and multi-media.
    Michael Jackson said: "Kingdom entertainment will combine human and financial resources to be successful in all fields of global family entertainment." A statement said the prince and the pop star shared a commitment to charitable activity and this played a major role in their decision to work together.
    Prince Waleed, 39, is a grandson of Saudi Arabia's founder Ibn Saud and nephew of King Fahd.
  • Copyright Holder: REUTERS
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