REUTERS – ABC News and Univision are launching a new network in a joint venture targeting Hispanics, the companies said on Monday.
The unnamed English-language channel will start in 2013.
ABC and Univision will share newsgathering and production costs. Exact terms of the venture were not disclosed.
Cable news is a competitive and crowded landscape. CNN, MSNBC and Fox News are constantly battling for viewers attention and time.
ABC and Univision — which started exploring a relationship more than a year ago — are banking on the growing number of Hispanics in the United States to flock to the network.
“We are excited about the challenge,” said Ben Sherwood, president of ABC News. “It’s a very specific focus that will attract a large and growing audience.”
ABC News has partnerships with other news organizations such as the BBC and Bloomberg as well as with Yahoo <YHOO.O>.
The network, which is still search for headquarters, is in the beginning stages of discussing distribution deals with cable providers to carry the news and lifestyle channel.
“We think it will have broad appeal beyond our community,” said Cesar Conde, president Univision Networks.
Univision has the largest audience of Spanish language television viewers in the United States, according to Nielsen ratings.
Walt Disney Co <DIS.N> owns ABC News.
(Reporting By Jennifer Saba; Editing by Gerald E. McCormick and Leslie Gevirtz)
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