ABC News and Univision on Monday announced a joint venture to launch an English-language TV news network aimed at Hispanic Americans.
Both partners will own a 50 percent stake in the network, which is yet to be named. The signal will go live sometime in the first half of 2013. Financial terms were not disclosed.
In advance of the network’s linear TV debut, ABC News/Univision will unveil a new website this summer. Content tailored for mobile devices and a social media component are also in the works.
Aimed at the nation’s English-speaking and bilingual Hispanic population, the network will cover the issues that are particularly relevant to the growing demographic, including: the economy, jobs, health care, immigration, education and politics. Along with hard news, the channel also will offer a measure of lifestyle/entertainment programming.
In selecting English as its default setting, the new network is looking to serve assimilated Hispanics and those who effortlessly toggle between the two languages in school, at work and at home. As the country’s largest Spanish-language media organization, Univision already provides news content in its native tongue.
According to the most recent U.S. Census data, the Hispanic population as of April 2010 stood at 50.5 million, marking a 43 percent increase from 35.3 million in 2000. Mexicans are by far the predominant ethnic group in the Hispanic subset (31.8 million).
Hispanics now account for 16 percent of the country’s total population. That number is projected to nearly double to around 30 percent by 2050. The demographic wields $1 trillion in annual spending power.