Financial media giant Bloomberg LP is reportedly in talks with Prince Alwaleed bin Talal al-Saud of Saudi Arabia to launch a new Arabic-language business news channel.
“For the Middle East, this will mean a major new business-media player from abroad. Right now the world of Arabic-language business channels is dominated by CNBC Arabia, with Al Jazeera trying to catch up through the network’s financial programming. Al Jazeera lacks a dedicated business channel. In the meantime, Bloomberg’s expansion into the Middle East is a preemptive strike against Murdoch. British Sky Broadcasting’s Sky News Arabia (currently in the news for its ties to Murdoch) is slated for a 2012 launch.
“In essence, this will mean Alwaleed will be competing against himself. Alternately, it could mean Alwaleed — a media tycoon who controls much of the Arabic-language pop music and film industries — is hedging his bets when it comes to Murdoch’s current troubles.”
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