FINANCIAL NEWS

Bloomberg, Prince Al Waleed to launch Al Arab news channel

14 Sep 2011

(MENAFN) US Bloomberg’s multimedia group’ chief executive, Andrew Lack, said that the financial data firm partnered with Prince Al Waleed bin Talal, the Saudi billionaire in order to launch an Arabic news TV station, reported The National.

Lack added that Al Arab station, which would be launched in 2012, would focus on business and would broadcast its news 24 hours a day, of which Bloomberg would provide 5 hours of business news.

He also said that the station would focus on political, social and economic issues in Saudi and the Arab world, moreover, its headquarter’s location wasn’t decided yet, but Manama, Doha, Dubai, Abu Dhabi and Beirut were under consideration for a location and main broadcast centre.

It is worth noting that in 2010, Prince Al Waleed announced the launch of Al Arab news channel, which is privately owned by Prince Al Waleed, and independent from his ventures Kingdom Holding and the Rotana Group.

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