Carlos Slim, the Mexican billionaire and telecommunications tycoon, is planning to finance an internet television network in the United States, according to Reuters.
Bloomberg reported that Slim's wireless carrier, America Movil SAB will be funding the network, which will star former CNN talk-show host Larry King. The network, called Ora.tv, will be based in New York and is headed by Jon Housman, who was formerly News Corp.'s president of digital journalism.
According to Variety magazine, the venture will be ad-supported and focus on digital platforms, bypassing traditional outlets and offering a mix of news and entertainment programming as well as interactivity. It will offer its programming on-demand and go for broad appeal. Housman told Variety, "Larry is a perfect example of that approach -- someone who reaches across different demographics and different categories of audiences."
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According to the Bloomberg Billionaires Index, Slim is the world's richest person and America Movil has more than 13 million subscribers in Latin America. He was also named the richest man by Forbes magazine for the third year in a row.
Larry King, whose show ran on CNN from 1985 to 2010, told The New York Times he was "restless" and, "I run into people everyday who tell me they miss my show. And a lot of times I miss it too."
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