Quote:Rupert Murdoch takes stake in rival to al-Jazeera

Fox network and Saudi billionaire Prince Alwaleed bin Talal to launch Arabic television news channel

Associated Press in Riyadh guardian.co.uk, Tuesday 6 July 2010 18.43 BST Article historyA company headed by the Saudi billionaire Prince Alwaleed bin Talal says it plans to launch a new Arabic television news channel in partnership with Rupert Murdoch's Fox network. The prince said the Kingdom Holding company's 24-hour channel "will be an addition and alternative" for Arab viewers. It will compete with al-Arabiya and al-Jazeera. He named the veteran Saudi journalist Jamal Khashoggi as chief of the new network, but did not say when it would begin broadcasting. Alwaleed, who owns the giant Rotana Group, was ranked last year by Forbes as the world's 19th wealthiest person.