New Internet TV Network to Feature Larry King

The Mexican billionaire Carlos Slim Helú is financing Ora.tv on the Internet. Chris Goodney/Bloomberg NewsThe Mexican billionaire Carlos Slim Helú is financing Ora.tv on the Internet.
Larry King, a co-founder of Ora.tv, said his new show would resemble "Larry King Live" and that his wife would be involved. Mathieu Young/CNNLarry King, a co-founder of Ora.tv, said his new show would resemble “Larry King Live” and that his wife would be involved.

Carlos Slim Helú, the Mexican billionaire, is financing an Internet television network called Ora.tv that will feature Larry King, the former CNN interviewer, in a return to the interviewer’s chair.

The network, to be announced on Monday, is the latest indication of Mr. Slim’s interests in Internet broadcasting and in televisionlike content. It will have a slate of shows of varying lengths and will stream them via the Internet to computers, phones and television sets in the United States, Latin America and elsewhere, bypassing traditional television distribution systems.

“There’s an opportunity to build a great brand here over the next few years,” said Jon Housman, whom Mr. Slim recruited to be the network’s chief executive. Mr. Housman was most recently president of digital journalism initiatives for News Corporation.

Ora.tv — the word Ora translates to “now” in Spanish and Italian — is an addition to the empire of Mr. Slim, who is sometimes called the richest person in the world. Mr. Slim’s company América Móvil, the largest wireless company in Latin America, will be the only firm financing the network. The amount of its investment is not being disclosed.

Mr. Slim is a major player in pay-television broadcasting in Latin America, but not in Mexico, where the government has stymied his efforts. Internet networks are a way around that, at least for now.

Asked whether Ora.tv would create videos specifically for the América Móvil wireless networks that Mr. Slim controls, Mr. Housman said, “That’s never been the driver in our conversations about this business.” He said he was in conversations now with potential distributors for the network. He said that Mr. Slim had “pushed us to create a franchise that could be very valuable over time.”

Mr. Housman said Ora.tv would be supported by advertising, not subscriptions. The network does not have a start date, but Mr. Housman said it would come online this year.

In a separate interview, Mr. King, a co-founder of the network, said his new program would partly resemble “Larry King Live,” the hourlong interview program that was on CNN from 1985 to 2010. CNN replaced “Larry King Live” with a new interview program, “Piers Morgan Tonight,” early last year.

Mr. King said he was “restless” and missed covering big stories: “I run into people everyday who tell me they miss my show. And a lot of times I miss it too.”

Last month Mr. King, 78, who had committed to four specials a year for CNN, formally parted ways with the channel, in part to start on Ora.tv. He said he had respect for the management of CNN. “When the train gets to the last station, you know to get off,” he said of his departure.

Mr. Housman said Mr. King’s weekday program would attract Internet viewers and other on-air talent. Mr. King said his wife, Shawn, would also be involved. “She’ll probably do a show on style,” he said. “She’ll probably interview celebrities.”

Ora.tv and companies like it are trying to reach the growing number of video consumers on computers, tablets, phones and Internet-connected televisions. Google is seeding dozens of on-demand channels that are starting this year on YouTube. Netflix and Hulu are starting original shows. And Amazon is believed to be getting into the business.

Last week an Amazon employee was identified on LinkedIn as the “vice president of original television” until a Fortune magazine reporter called to inquire about the division. Television network owners like News Corporation and Comcast are increasing the amount of original content they make for the Web.

Mr. Slim owns stakes in a number of media companies, including The New York Times Company. Mr. King said they met in 2010 when he was invited to speak to students who had received scholarships from one of Mr. Slim’s charities. Mr. Slim later appeared on “Larry King Live,” and “we had a wonderful hour,” Mr. King said. In February 2011, Mr. and Mrs. King hosted the opening of Mr. Slim’s art museum in Mexico City. Mr. King and Mr. Slim later started discussing a partnership.

Mr. Slim declined to be interviewed about the new venture, but he 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.”