MUMBAI: ABC News and Univision News have entered into a multiplatform joint venture to launch an English news network targeted at the Hispanics in that country.
The currently unnamed television channel is expected to launch in 2013. A website, mobile and social media content are expected to debut this summer.
A management team will be announced this summer. The network will have anchors and correspondents in major cities across the U.S.Additionally, ABC News and Univision News will share newsgathering and production resources.
The transaction is subject to the completion of definitive agreements. The landmark agreement.
would capitalise on Univision's news leadership and expertise in reaching U.S. Hispanics and ABC's global news leadership to serve over 50 million Hispanics, the youngest and fastest-growing demographic in the U.S.
The new 24/7 network will include America's first English-language channel for English-dominant and bilingual Hispanics as well as integrated digital and social platforms.
It will deliver news content focused on issues, lifestyle interests and culture of importance to Hispanics and will feature the trusted, award-winning journalists of ABC News and Univision News.
"This exciting joint venture represents the latest example of our long-term strategy to broaden the reach of ABC. Our powerful premier news brand, combined with the world's leading Hispanic media company, will create the nation's first news and lifestyle channel targeted to this quickly expanding and important community," said Disney Media Networks and president, Disney/ABC Television Group.co-chair Anne Sweeney.
Currently, Hispanics represent 16 per cent of the total population in the United States, a number that is projected to double to 30 per cent by 2050. Hispanics are the fastest growing segment of the population, wield considerable spending power of over $1 trillion, and have an increasing impact on social, economic and political trends.
"For more than five decades Univision has been the leader in serving Hispanics in the U.S. and this joint venture is an extension of our vision to deliver the most relevant news and information, regardless of language, to all Hispanics," Univision Networks president Cesar Conde. "This alliance combines the expertise and brand strength of Univision News with ABC News' leadership and is another example of Univision's commitment to serving and empowering Hispanic America while connecting all audiences to Latino issues."
The new channel will not compete against general news service providers like Fox News. It will target the Hispanics specifically and, besides news, will have lifestyle and wellness content.
