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News Corp major shareholder has no plans to sell stake

15 July 2011 Last updated at 03:05 BST

Saudi Prince Al-Waleed bin Talal Alsaud, the second largest News Corporation shareholder behind Rupert Murdoch, has spoken out amid the continuing crisis for the firm.

The value of News Corp's stock has dropped away, and the company has been forced to abandon its bid for total ownership of UK TV company BSkyB.

But in an exclusive interview with Newsnight's Justin Rowlatt, the Saudi royal said he had no plans to sell off his stake in the company - 7% of voting shares.

However, he said News International Chief Executive Rebekah Brooks would have to resign if there was any sign of her involvement.