Mexican billionaire Carlos Slim is financing an internet TV network, Ora.tv, that will be launched this year but it does not have a start date yet.

The network will feature on-demand content and will produce "a wide range of programs that transcend traditional formats", according to Ora.tv.

America Movil, one of the world's biggest telecommunications firms, will fund the station that will be led by Jon Housman, who was formerly the president of digital journalism at Rupert Murdoch's News Corporation.

Slim is the main provider of pay-television in Latin America, where he offers cable and satellite services to around 13 million customers, and he also owns a stake in the New York Times Co.

 

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