Saudi prince partners with Bloomberg for Alarab

The Middle East will have a new satellite news network starting in 2012, with some help from Bloomberg.

Saudi prince Al-Waleed bin Talal, the largest non-Murdoch investor in News Corp., has partnered with the Gotham-based biz news org to provide five hours of Bloomberg-branded content every day to Alarab, his upcoming news channel.

The net seeks to compete with satcasters Al-Jazeera and Al-Arabiya, the two foremost sources of news for the region. Last year, bin Talal announced that he had partnered with News Corp. on the network, but the conglom wasn’t mentioned in Monday’s announcement.

The newser will be run by Jamal Khashoggi, former editor-in-chief of moderate Saudi newspaper al-Watan, who left that publication in 2003 after a tenure notable for its support of women’s rights and criticism of Saudi Arabia’s religious police.

Alarab is currently seeking reporters based in the Middle East and looking for a headquarters.

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