Saudi tycoon to launch 24-hour news channel

Saudi Arabia's Kingdom group controlled by tycoon Prince Alwaleed bin Talal said it would launch a regional 24-hour news channel to be headed by prominent journalist Jamal Khashoggi.

The new channel "will focus on development in Saudi Arabia and the Arab world on the political, economic and social fronts," Prince Alwaleed bin Talal said in a statement.

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