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Qatar-backed satellite network Al Jazeera demands $150 million in damages from Egypt

Pan-Arab satellite network Al Jazeera says it has filed a claim against Egypt demanding $150 million in compensation to cover what it says are damages to its investments in the country since July.

The Qatar-based network said in a statement posted on its website Monday that it lodged a formal "notification of dispute" with Egypt's interim government based on a bilateral investment treaty between Qatar and Egypt.

It says it will seek international arbitration if it the two sides do not reach a settlement within six months.

Al Jazeera is backed by the Gulf nation of Qatar. Egyptian authorities accuse the network of providing a platform for the Muslim Brotherhood, which Cairo has branded a terrorist organization.

Egyptian government representatives could not immediately be reached for comment.