Veteran talk show host Larry King, 78, will get a new gig on the new Ora.tv Internet site financed by Mexican billionaire Carlos Slim Helu, 72.
The new site is scheduled to start webcasting later this year, it said in an announcement. We are also the new home for Larry King, who will bring his trademark interviews of the world's leading voices from politics to entertainment.
King retired from CNN, a unit of Time Warner (NYSE: TWX) at the end of 2010 and had signed a deal to produce four specials a year. But he told the New York Times, in which Helu is the largest individual investor, that he'd canceled the deal in favor of Ora.
Based on the word for now in Italian and Spanish, Ora will be financed by Slim's America Movil (NYSE: AMX), which is the biggest wireless carrier in Mexico and Latin America. The company's market capitalization exceeds $78.7 billion, more than twice that of Time Warner.
Ora.tv is to be run by Jon Housman, a former president of digital journalism initiatives for Rupert Murdoch's News Corp. (NYSE: NWS), which owns Fox Broadcasting, among other media properties.
Housman also said King's wife, Shawn, 52, may do a show related to style.
King met Slim, whom Forbes ranked as the world's richest person this month, at an event for winners of scholarships from Slim interests. Subsequently, Slim appeared on his old CNN show.
American Depositary Receipts for America Movil fell 43 cents to $23.13 in Monday trading, while Time Warner shows fell 57 cents to $36.15.