MUMBAI: While the future ownership pattern of the Indian version of the NBC affiliated business and financial channel CNBC is not yet clear, the channel is expanding its presence in the Asian region. An affiliate of the US network has said that it plans to launch an Arabic-language channel dedicated to Middle Eastern economic and business news next month.
Dubai based CNBC Arabiya will have bureaux in Lebanon, Iraq, Saudi Arabia, Egypt and Bahrain.
It will be owned and operated by Middle East Business News, a Dubai-based company, that will invest up to $45 million in the channel over the next three years. The American network has two other regional channels -- CNBC Europe and CNBC Asia.
A Reuters report indicates that several international media organisations, such as Reuters, the Associated Press, the Middle East Broadcasting Corporation and CNN have set up shop at the Dubai Media City, a tax-free zone in the emirate which is the Gulf region's trade and tourism hub.