Say it Ain't So. Larry King is Coming Back

Billionaire Carlos Slim’s wireless carrier America Movil (AMXL) SAB is funding an online TV network that will star former CNN talked host Larry King.

Ora.tv, based in New York, is led by Jon Housman, formerly News Corp.’s president of digital journalism, according to the company’s wesite.  Programming will start later this year, the company said. It didn’t say how much America Movil is investing.

Slim is the world’s richest person according to the Bloomberg Billionaires Index.

Ora.tv will not charge a subscription fee and will be wholly dependent on online advertising for revenue, Housman said.

Companies such as Hulu LLC that carry video content online have shown that ads can be lucrative when the programming is original, said Tony Wible, a Philadelphia-based analyst who covers media companies for Janney Montgomery Scott LLC.

King, 78, was a Miami media personality who gained fame across the U.S. with a radio show broadcast from 1978 to 1994, he then went to CNN.

King is once again expected to interview celebrities on the show.