The network, which will be called Ora.tv, will feature on-demand content and will produce "a wide range of programs that transcend traditional formats," the website said.

Slim's 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, Ora.tv's website said.

Reuters reported in January that Slim, whom Forbes says is the world's richest man, and King were in talks to start a media venture.

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.

Ora.tv will be launched this year but it does not have a start date yet.

(Reporting By Michael O'Boyle; Editing by Mark Potter)

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