Mexico's Slim invests in online TV network

Mar 12, 2012
Mexican tycoon Carlos Slim, pictured in 2011, is teaming up with former CNN talk show host Larry King to launch an online television venture called Ora.TV.

Mexican tycoon Carlos Slim is teaming up with former CNN talk show host Larry King to launch an online television venture called Ora.TV.

Slim and King, the co-founders of the network, said that Ora will produce high-quality for smartphones, computers and Web-connected television sets.

Jon Housman, the former head of at Rupert Murdoch's News Corp., has been named chief executive of the venture, Ora said in a statement.

Ora, which means "now" in Italian, will be funded by Slim's wireless service provider America Movil and will launch programming later this year.

The network will be based in New York. Slim holds a majority interest in the venture.

Ora said several shows are currently in development and it is in talks with distribution and technology partners.

"Ora.TV represents a great opportunity," said Slim, who topped the Forbes list of richest people in the world last week with a fortune of $69 billion.

"The business model is sound and the team brings the talent and industry understanding that will help Ora stand out in digital television, a category which is primed for ," Slim said.

King, who left last year after 27 years at the network, said Ora is a "bold new model for ."

'With the exponential burst in video consumption via Internet-connected devices, this is an incredible moment to be launching a digital network and studio," Housman said.

"In addition to traditionally styled programs, we will produce shows in alternative formats and varying lengths," Housman said.

"This approach will allow us to thoughtfully address topics and ideas that might not be as well suited to traditional TV," he said.

"Additionally, with Ora, we will also be able to incorporate content, social interactions, and technologies in ways that are difficult to pull off with linear platforms."

Explore further: It's down to the wire for online shopping

add to favorites email to friend print save as pdf

Related Stories

Carlos Slim ups stake in NY Times to 8.1 percent

Oct 07, 2011

Carlos Slim, the Mexican magnate believed to be the world's richest individual, has increased his stake in the The New York Times Co. to 8.1 percent, regulatory filings showed Thursday.

Mexico billionaires battle over telecoms sector

Feb 05, 2012

Battles between three Mexican billionaires over control of the lucrative telecoms sector heated up again this week, intensified by international criticism of monopolistic practices.

Public TV goes digital

Jun 16, 2006

Subscribers of Verizon's fiber-optic FiOS TV service will now have an option of high-definition public television.

China test-launches 3D TV channel

Jan 02, 2012

China's state broadcaster has test-launched a 3D television channel, state media said, in a bid to draw viewers and drive consumption by encouraging people to upgrade to 3D-capable sets.

Qualcomm pulls plug on Flo TV device sales

Oct 06, 2010

US technology company Qualcomm said Tuesday that it was suspending sales of its Flo TV "personal television" sets as it examines the future of the mobile TV service.

Recommended for you

It's down to the wire for online shopping

1 hour ago

As the holiday shopping season winds down, FedEx, UPS and online retailers are using the last few days to try to avoid the problems that occurred last year when severe winter weather and a surge in late orders ...

China's Xiaomi raises more than $1 bn in funding

Dec 21, 2014

China's top smartphone seller Xiaomi Corp. is raising more than $1 billion in a fresh round of funding, a move which would raise its valuation above $45 billion, a report said Sunday.

Why the Sony hack isn't big news in Japan

Dec 20, 2014

Japan's biggest newspaper, Yomiuri Shimbun, featured a story about Sony Corp. on its website Friday. It wasn't about hacking. It was about the company's struggling tablet business.

Sony faces 4th ex-employee lawsuit over hack

Dec 20, 2014

A former director of technology for Sony Pictures Entertainment has sued the company over the data breach that resulted in the online posting of his private financial and personal information.

Sony tells AFP it still plans movie release

Dec 20, 2014

Sony Pictures boss Michael Lynton denied Friday the Hollywood studio has "caved" by canceling the release of "The Interview," and said it still hoped to release the controversial film.

2012 movie massacre hung over 'Interview' decision

Dec 19, 2014

When a group claiming credit for the hacking of Sony Pictures Entertainment threated violence against theaters showing "The Interview" earlier this week, the fate of the movie's big-screen life was all but ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.