At least seven per cent of Sky News owner News Corp is owned by Prince Al Waleed Bin Talal, who recently hinted that he would help set up a new 24/7 news channel in a region virtually saturated with Arabic broadcast competitors. The new channel, which is nameless at present, will be independent of Al-Waleed's Rotana Group. Prince Al-Waleed is the majority owner of the Rotana Group, the Arab world's largest media and entertainment company. The pan-Arab conglomerate includes a film production company, record label Rotana Records and 11 TV channels, two of which are in partnership with News Corp's Fox International. __