03/28/2008 05:12 am ET Updated May 25, 2011

Murdoch Teams Up With Billionaire Saudi Prince

Rupert Murdoch has landed in the Middle East.

The mogul's News Corp. is launching two English-language, free-to-air satcasters in the region before the end of the year in partnership with Saudi Prince Al-Waleed Bin Talal's regional media titan Rotana.

Prince Waleed holds a reported 5% stake in News Corp. and also has sizable stakes in Time Warner and Disney.

A 24-hour movie channel, tentatively dubbed Fox Movies, will launch in May. The second channel, whose sked will be largely filled with U.S. skeins, will launch in or around November.

Read more on Variety