Mexican billionaire Carlos Slim Helú and Larry King today announced the creation of Ora.TV. The new internet television network, first reported in January, will be funded by Latin American wireless service provider América Móvil, controlled by Slim.
Jon Housman, most recently President of Digital Journalism for News Corp., will be the new network’s CEO.
In a press release, the company says Ora.TV will be an on-demand network that creates high-quality video programming resembling traditional TV in terms of production quality and content, available in a variety of formats, including short-form segments lasting as little as three minutes.
It will be available for digital distribution via a variety of platforms, available on phones, laptops, tablets, connected televisions, and other devices.
“Ora.TV represents a great opportunity,” Slim 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.”
Ora is currently in talks with potential distribution and technology partners. It’s also in discussions with other on-air personalities to join King in creating a “compelling roster of talent and programming.”
Several shows are already in the works and will be announced in the coming months.
Ora.TV will be based in New York City and will be launching programming later this year.