Bloomberg News -- [Prince] Alwaleed also said today he may start a regional news channel to compete with the Al-Arabiya and Al-Jazeera satellite channels. The channel “is something I will be doing personally” because it “needs a lot of investments up front,” he said. The channel wouldn’t be produced through Kingdom Holding Co. or Rotana, Alwaleed said.
The news channel would borrow from the business model used at Murdoch’s Fox and Sky News channels while broadcasting different content in the Middle East, Alwaleed said. Saudi Arabia is a Sunni Muslim-majority nation with strict media laws and no diplomatic relations with Israel.