ABC News and Univision launch joint news venture
ABC News and Univision plan to launch a 24-hour English-language news network targeting U.S. Latinos, the fastest-growing segment of the nation's population.
The as-yet unnamed television network is expected to launch in 2013, covering issues of relevance to the audience, the companies said in a joint statement. A website, along with mobile and social media content, is scheduled to debut this summer -- in time for the upcoming presidential elections.
"This exciting joint venture represents the latest example of our long-term strategy to broaden the reach of ABC," Anne Sweeney, co-chair of Disney Media Networks, said in a statement.
Latinos represent 16% of the total population in the United States, a number that is projected to increase to 30% by 2050. The demographic group wields considerable spending power, over $1 trillion.
"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," said Cesar Conde, president of Univision Networks.
As part of the joint venture, ABC and Univision News would share reporting and production resources. A management team is expected to be announced this summer.
-- Dawn C. Chmielewski
Photo: From Left: ABC News President Ben Sherwood, Univision Networks President Cesar Conde and Univision News President Isaac Lee announce ABC News and Univision News plan to create a multiplatform news service. Credit: Lorenzo Bevilaqua / ABC