Prince Alwaleed Unveils the Name of His News Channel: 'Alarab'

Global business and financial information leader Bloomberg LP joins venture with 'Alarab'

Sep 13, 2011, 10:08 ET from Alarab News Channel

RIYADH, Saudi Arabia, Sept. 13, 2011 /PRNewswire/ -- Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud today announced Alarab will be the name of his new international news channel scheduled to be launched in 2012.

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The well-known Saudi journalist, Mr. Jamal Ahmad Khashoggi, will be managing this new 24-hour channel which will target Arabic-speaking viewers across the Arab world and beyond.  

Alarab will focus editorially on the important shifts taking place across the Arab world with an emphasis on  freedom of speech and freedom of press.  Furthermore, it will uphold the principle of free transfer of information as well as, objective, balanced  and credible  reporting.  The News channel will cover the latest developments around the world and will also highlight political, social and economic issues in Saudi Arabia and the Arab world.

HRH Prince Alwaleed also announced today an agreement with Bloomberg LP in which Bloomberg will support the creation of five-hours of financial and economic news programming throughout the day on the channel.

Bloomberg-branded business reports will air within Alarab's daily coverage with reports from the MENA markets as well as a weekly roundup of global financial news.  Moving beyond the news headlines, it will also feature regular segments on Arab business leaders from the Kingdom, the Gulf region and the international Arabic speaking world.

A team of Bloomberg media specialists and producers will be provided to the Alarab channel and will assist in the production of the channel's economic and business coverage drawing on Bloomberg's extensive financial and economic data from the Bloomberg Professional service and reporting from Bloomberg's 2,300 journalists in 146 news bureaus across 72 countries.

The location of Alarab's headquarters and main broadcast center has not yet been announced, although Manama, Doha, Dubai, Abu Dhabi, and Beirut are among the cities being considered. Alarab will hire experienced Arabic speaking media professionals in addition to attracting new talent.

The news channel will offer Arab viewers premium and credible content and will be one of the most prominent news channels broadcasting from the region alongside other networks.  

In his comments, Prince Alwaleed stressed that: "The Arab world is interested in the fields of business, employment, economic development, and is focused on prosperity and growth.  Our alliance with Bloomberg and its credible source of financial and economic data, together with its extensive media experience, will provide the Alarab news channel with a strong and comprehensive economic platform to accurately cover Saudi Arabia, and the rest of the Arab world."

The Alarab news channel is an independent venture from Kingdom Holding Company and the Rotana group and is privately owned by Prince Alwaleed Bin Talal.  

About Bloomberg:

Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company's strength—delivering data, news and analytics through innovative technology, quickly and accurately—is at the core of the Bloomberg Professional service, which provides real time financial information to more than 300,000 subscribers globally. Bloomberg's enterprise solutions build on the company's core strength, leveraging technology to allow customers to access, integrate, distribute and manage data and information across organizations more efficiently and effectively. Through Bloomberg Law, Bloomberg Government and Bloomberg New Energy Finance, the company provides data, news and analytics to decision makers in industries beyond finance. And Bloomberg News, delivered through the Bloomberg Professional service, television, radio, mobile, the Internet and two magazines, Bloomberg Businessweek and Bloomberg Markets, covers the world with more than 2,300 news and multimedia professionals at 146 bureaus in 72 countries.  Headquartered in New York, Bloomberg employs more than 13,000 people in 185 locations around the world.

SOURCE Alarab News Channel