Carlos Slim Helú, Larry King Co-FoundOra.TV

América Móvil, a major Latin American wireless
service provider that is controlled by Carlos Slim Helú, has announced that it
will be funding the launch of Ora.TV, a new digital television venture that
will be providing content to a variety of digital platforms.

part of the launch, former CNN host Larry King will be returning to TV as a
co-founder of the venture along with Slim Helú, who is one of the world's
richest men. The network will be led by Jon Housman, who until recently was the
president of digital journalism for News Corporation.

which means "now" in Italian, is planning to create on-demand video programming
that the company says will "resemble traditional TV in terms of production
quality and content" for phones, laptops, tablets, connected televisions, and
other devices.

size of Slim Helú's investment or the potential launch date for Ora.TV, weren't

group is currently in talks with potential distribution and technology partners
as well as other possible on-air personalities besides King.

Helú's other investments include The New York Times and Saks. He is the main
investor in Telefonos de Mexico, América Móvil and Grupo Financiero Inbursa.

represents a great opportunity," Slim Helú said in a statement. "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
exponential growth."

am thrilled to be working with Carlos and Jon to create Ora.TV, a bold new model
for digital television," King added in a statement. "The backing of
Carlos-given his stellar track record in business-combined with Jon's track
record of leadership and innovation, is a recipe for success."

a statement, Jon Housman, Ora.TV's CEO also commented on their content creation
strategy: "In addition to traditionally styled programs, we will produce shows
in alternative formats and varying lengths so that viewers can find and get
information and insights they really care about in ways designed to harness
these new mobile and interactive platform. This approach will allow us to
thoughtfully address topics and ideas that might not be as well suited to
traditional TV, 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."