Prince Alwaleed bin Talal backs James Murdoch

7% News Corp. stakeholder endorses him as next CEO

NEW YORK -- Saudi billionaire and News Corp. shareholder Prince Alwaleed bin Talal on "Charlie Rose" Wednesday night endorsed James Murdoch as next CEO of News Corp. whenever father Rupert chooses to step down.

"If he doesn't appoint him, I'll be the first one to nominate him to be the successor of Mr. Rupert Murdoch, god forbid if something happens to him," Alwaleed said on the show on PBS, which will be re-aired on Bloomberg TV Thursday night.

Asked by Rose again if James Murdoch was his future CEO candidate, Alwaleed said: "There's no doubt, because I know him, I have full confidence in him, full trust in him, and he's capable." He added: "He's really Rupert Murdoch in the making, and he's almost there now."

Alwaleed owns about a 7% stake and is the largest shareholder in the company besides the Murdoch family.