He is starting his own media company, al Arab (not to be confused with Al Arabiya) on Bahrain.
Wow, the article said that on the first day of broadcasting, they put the Bahrani opposition on the air, and the Government shut them down - first day.
I guess that every media outlet has its political orientation, we will have to see where this one stands.
No doubt there are big start up costs for a whole network with programming. I assume that is why he sold off News Corp stock. Probably freeing up cash for the new venture, without overweighting his portfolio in media.