Larry King To Headline NYT Part-Owner's New Network
Mexican billionaire Carlos Slim is financing the new online project set for launch later this year.
| Posted Monday, March 12, 2012, at 1:59 PM
Photo by Ethan Miller/Getty Images for Keep Memory Alive.
The world's richest man is teaming up with former CNN icon Larry King as part of a new online television network that will roll out later this year.
The news was announced Monday by America Móvil, the wireless carrier owned by Mexican billionaire Carlos Slim, who also owns a sizable chunk of the New York Times. The network will officially be known as Ora.TV (ora is a shortened version of ahora, which means "now" in Spanish) and will feature King in a talk show format similar to Larry King Live, which ended its 25-year run in 2010.
In an interview with the Times, the 78-year-old TV host said that he was "restless" and was eager to return to his familiar role as a news anchor. "I run into people every day who tell me they miss my show," he said. "And a lot of times I miss it too.”
The online network will broadcast a variety of programming over the Internet to computers, phones, and TV sets in the United States, Latin America, and elsewhere. It will be supported by advertising rather than subscriptions.
The announcement comes as other companies are also trying to reach more Internet-connected customers on their cellphones and tablets, and as major streaming services like YouTube, Netflix, and Hulu have launched plans to get into the original programming game.
Forbes magazine recently named Slim the richest man in the world, pegging his net worth at around $69 billion. In addition to owning America Móvil, his holdings also include an 8.1 percent stake in the New York Times.
