RIYADH—The founder of the Arab world’s largest media company who was rounded up in the Saudi corruption crackdown has emerged to tout a potential joint venture with the government, a sign of the ruling elite’s outreach to the corporate world as the crown prince prepares to tour the U.S. to woo investors.
Waleed al Ibrahim said the government is in talks to buy a majority stake in his television network, MBC Group, and that he would maintain control of it with a 40% stake, staying on as chairman. Mr. Ibrahim said he didn’t...