ABC News and Univision announced Monday morning that they have completed a definitive agreement to enter into a joint venture that will create a 24/7 English-language network geared toward the 50 million Hispanics now living in the U.S.
The as-yet-unnamed network, which was first announced in May, will make its TV debut in 2013, and will capitalize on Univision’s news leadership and expertise in reaching U.S. Hispanics and ABC’s global news leadership, Univision said in a statement.
"ABC News and Univision News share a goal of serving the thriving Hispanic audience that makes up such an influential and essential part of America," said Ben Sherwood, president of ABC News. "Our new joint venture will empower Hispanic Americans and connect audiences of all kinds to culturally relevant news, information and lifestyle programming. The signature of the definitive agreement is an important, exciting first step toward achieving our vision."
Isaac Lee, president of Univision News, concurred with Sherwood. "We are pleased to come one step closer to our goal of delivering a new English-language news offering to U.S. audiences," he said. "Together, Univision News and ABC News will inform, engage and empower the thriving Latino community as well as provide news and information from a Latino perspective to a broader audience."
Today, Hispanics represent 16 percent of the total population in the United States, and that number is projected to nearly double by 2050. Hispanics are the fastest-growing segment of the population, and have an increasing impact on social, economic and political trends.
A website for the new network, as well as mobile and social media content, are expected to debut soon. Editorial coverage will focus on the issues most relevant for U.S. Hispanics.
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