Backed by Saudi Prince Alwaleed, Arabic news channel Alarab goes on air from base in Bahrain

The fight for Arabic news viewers is heating up.

A new pan-Arab channel known as Alarab took to the airwaves Sunday from its headquarters in the tiny island nation of Bahrain, promising an "objective, fresh and unbiased view of world events."

It is backed by Saudi billionaire and royal family member Prince Alwaleed bin Talal.

Alarab's lead story was the purported beheading of Japanese journalist Kenji Goto by Islamic State militants. It then turned its focus on its own backyard, looking at Bahrain's decision to strip the citizenship of 72 nationals. Notably, its guests included prominent opposition activist Khalil al-Marzooq.

The channel faces stiff competition from established competitors including Qatar-based Al-Jazeera, as well as Sky News Arabia and Saudi-owned Al-Arabiya, both of which are headquartered in the United Arab Emirates.