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News Corp founder Rupert Murdoch faced an unprecedented investor revolt last week. Photo: Reuters

The Sun King, Rupert Murdoch, lost the support of his prince last week - and almost lost control of his media empire as a result.

But the real problem for Murdoch is that this war is far from over, and there are serious implications for News Corp's struggling print empire in Australia - the weak underbelly that will be targeted by investors.

Long time Murdoch backer, the Saudi billionaire Prince Alwaleed bin Talal, kept on the sidelines last week as the News Corp founder faced an unprecedented investor revolt against the structure that entrenches his family's control of the company with a minority stake.

On the sidelines: Saudi billionaire Prince Alwaleed bin Talal Photo: Bloomberg

The Murdoch family owns just 12 per cent of News Corp, but they own 40 per cent of the shares which control the company.

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The backing of Prince Alwaleed with his 6.6 per cent stake is enough to make the family's position virtually impregnable.

"We never vote against our partner Mr Murdoch," a spokesman for Prince Alwaleed told theFinancial Times, but the numbers speak more loudly than his words.

Only 87.59 million News Corp shares voted against a proposal to give a vote to every News Corp share, not just the Class B shares.

More here:
Sun King vulnerable after losing his prince