Univision News and ABC News have agreed in principal to form a multiplatform joint venture targeting English-speaking Hispanics. The transaction is subject to the completion of definitive agreements.
The partnership will "provide all audiences with a multiplatform current events perspective on the issues that matter most to Latinos," said Isaac Lee, president, Univision News. "This is an important moment for journalism in the U.S. and for the U.S. Hispanic community."
The agreement would capitalize on Univision's news and expertise at reaching U.S. Hispanics and ABC's global news reach, according to a news release. The eyes of some 50 million U.S. Hispanics are at stake in the growing viewer demographic.
"(ABC's) powerful premier news brand, combined with the world's leading Hispanic media company, will create the nation's first news and lifestyle channel target to this quickly expanding and important community," said Anne Sweeney, co-chair, Disney Media Networks and president, Disney/ABC Television Group.
Related story: "XBox 360 Video App Launched for Univision"
The 24-hour network will include what is being billed as America's first English-language channel for English-dominant and bilingual Hispanics, along with digital and social-network platforms.
A website and social-media content are expected to be announced this summer, along with a management team, according to the release. ABC News and Univision News are expected to share newsgathering and production resources.
Hispanics make up about 16 percent of the U.S. population -- with numbers expected to double by the middle of the century -- and command spending power of more than $1 trillion.
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