Bloomberg will not participate in Saudi Arabia's "Davos in the Desert"

None of the panels at this month's Future Investment Initiative in Riyadh will feature Bloomberg moderators, the news organization said Wednesday.

Driving the news: Axios reported earlier on Wednesday that Bloomberg reporters were scheduled to moderate nine of the panels in a draft of the program. Ty Trippet, a Bloomberg spokesman, told Axios that "Bloomberg is not sponsoring the event or participating in the program. We will be covering news from the conference, as we did last year."

Go deeper: The draft list of grandees scheduled to appear at "Davos in the Desert"