Saudi tycoon prince Alwaleed bin Talal has denied reports that a major Arab TV news channel he is planning to launch would be based in Cairo.
In a statement, the prince’s office said Cairo is just one of the potential locations for what could be the Arab world’s largest Arabic language TV news channel, which will be managed by well-known Saudi journalist Jamal Khashoggi.
"No decision has so far been made on where to base the channel… while Egypt is on the list of potential destinations in the Arab world, the matter is still under study and no final decision has been made," said the statement, which was published in Saudi newspapers on Tuesday.
The statement called on the media to exercise "caution" on the matter and publish corrections.
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