Murdoch to launch Italian news channel

Rupert Murdoch's Italian satellite TV service has confirmed it will launch a 24-hour news channel drawing on the success of Sky News in the UK and Fox News in the US.

Sky Italia, which is 80.1%-owned by Mr Murdoch's News Corporation, said the channel, to be called SkyTG24, will go on air later this summer.

The channel will share some resources with Sky News and Fox News and will run Italian and international news and a talk show, Sky Italia said.

Sky Italia, which was given regulatory clearance by the European Union in April, is the latest addition to Mr Murdoch's empire along with US pay-TV business DirecTV.

The media mogul has underlined his determination to be at the heart of the business by claiming a seat on Sky Italia's board alongside his 31-year-old son, Lachlan.

Mr Murdoch's Stream TV merged with pay-TV business Telepiu to form a Sky Italia, a service with 2.3 million subscribers.

Mr Murdoch is said to have set a long-term target of 10 million subscribers - a fifth of all Italian households.

Achieving such an audience level would damage the market share of Mediaset, the media company controlled by the family of Italy's prime minister, Silvio Berlsuconi.

Mediaset and the state broadcaster, RAI, dominate the free TV landscape in Italy. News Corp hopes the new network will have 3.2 million subscribers and turn a profit within 18-24 months.