Carlos Slim- the world’s richest man – is pouring a small fortune into a new web-based TV ‘network’, and one of his top signings is veteran CNN talk-show host Larry King.

Reported here on March 5th, the new venture will be formally announced today (March 12th) and is called Ora-TV (‘Now’ in English). It will have a series of shows, one of which features King.

Slim looks to the new service to by-pass conventional broadcast TV and provide an ‘on-demand’ stream for tablets, smart phones and ‘smart TV’ sets.

Heading up the service is John Housman, who until recently was president of digital journalism at News Corp.

Carlos Slim is using his America Movil telecoms network to fund the venture.

Larry King, age 78, says his show will resemble his hour-long CNN show, and he was getting back behind a desk – with his trademark colourful trouser suspenders – because he was restless and missed covering big stories. Piers Morgan took over his CNN show last year.

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