Saudi Prince Alwaleed bin Talal owns a 7 percent stake in News Corp
That is from the link in the OP
I doubt seriously that 7% ownership in any company allows you to dictate that much.
What percentage does Murdoch own I wonder?
Depends on how highly leveraged Murdoch is. 5% is pretty substantial control in a public company. And if he is able to spike stories he does not like, it is way too much for any government official from any foreign power, especially one that is, at best, equivocally friendly.
As Annie pointed out, this matters mostly because Fox has the reputation of being least dishonest. Makes their ability to manipulate a whole lot greater, because they are the ones most trusted.