“Our alliance with Bloomberg and its credible source of financial and economic data, together with its extensive media experience, will provide the Alarab news channel with a strong and comprehensive economic platform to accurately cover Saudi Arabia, and the rest of the Arab world,” said Al-Waleed in a statement.

Alarab is the same channel that was announced in July 2010 with News Corp. as a financial backer. No mention of News Corp. is made in the release, instead there is a statement noting:

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Erik Schatzker will host the program.

Al-Waleed talks to Bloomberg about his future plans for his media company Rotana, as well as his desire to launch an Arabic news channel to compete with Al Zazeera and Al Arabiya.

As one might imagine, Al-Waleed’s life is quite unlike most people’s, and the special will follow him to his desert camp, where he ”makes deals surrounded by falcons, camels and satellite hook-ups.”

It will also have “exclusive footage of the Prince praying, bicycle-riding on the streets of Riyadh, practicing archery and other sports as well as hosting Saudi citizens at his desert camp for majlis.”

More information, after the jump.

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According to the cable, two Saudi media executives tell a U.S. official (while at a Starbucks in the Saudi Arabian city of Jeddah) that MBC, which broadcasts “Housewives,” “Letterman” and “Friends,” and Rotana, a part-Rupert Murdoch-owned channel that airs Fox News programming, are very popular and have citizens of Saudi Arabia more interested in studying and learning about the United States.

While it’s not earth-shattering to hear that Saudis like Jennifer Aniston, Eva Longoria and David Letterman, it’s something of a surprise that they enjoy watching Fox News programming. American critics of Fox News have accused it of pushing a right-wing, anti-Islam agenda.

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Jon Stewart‘s take was to point out that the man, Prince Al Waleed bin Talal, is the second largest shareholder in News Corp., which owns Fox News.

Today, The New York Times spoke to Al Waleed, who said he does not believe the Islamic center should be built, citing the feelings of the 9/11 victims families, as well as its proximity to a strip club.

But he also weighed in on the “Fox & Friends” and “Daily Show” segments:

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The new channel, which will launch “in the near future,” is designed to compete with regional news leaders Al Jazeera and Al Arabiya.

Journalist Jamal Khashoggi has been tapped to lead the venture.

“We no longer have a void in the Arab world as it is now heavily occupied, therefore the new news channel is going to become an addition and an alternative for viewers. Our personal aim is to achieve this,” said Al-Waleed in a statement.

Al-Waleed, through his Kingdom Holding company, owns a 7% stake in News Corp.

(h/t Johnny $)

New Career Opportunities Daily: The best jobs in media.