/ Source: The Associated Press
Saudi billionaire Prince Alwaleed bin Talal says he has teamed up with business news service Bloomberg LP on a new Arabic language satellite news channel.
Alwaleed, who heads Kingdom Holding Co., an investment firm with stakes in several Western blue chip companies including Citigroup, said Tuesday the new Alarab channel will focus "on the important shifts taking place across the Arab world, with an emphasis on freedom of speech and freedom of press."
He said Bloomberg business reports will be featured on the news channel and that a team of "media specialists" and producers from financial news services would work with Alarab to help in the production of the new channel's business coverage.
The channel is slated to begin operations next year.