ABC News, Univision Unveil English-Language News Network Joint Venture
Disney's ABC News and Univision Communications' Univision News on Monday made official a long-expected agreement in principle to form a multiplatform news joint venture targeting Hispanic Americans with English-language news.
They said the deal would combine Univision's ability to reach 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 24/7 venture will include America’s first English-language channel for English-dominant and bilingual Hispanics, as well as integrated digital and social platforms.
Financial terms weren't disclosed.
"This exciting joint venture represents the latest example of our long-term strategy to broaden the reach of ABC," said Anne Sweeney, co-chair of Disney Media Networks and president of Disney/ABC Television Group. "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 Univision Networks president Cesar Conde, "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."
ABC News president Ben Sherwood said: “Our mission is clear: To offer culturally relevant news, information and lifestyle programming to the large and thriving Latino audience in the United States. In these times of rapid change, we are very excited about this opportunity."
And Isaac Lee, president of Univision News, called the venture "groundbreaking." "It will also provide all audiences with a multiplatform current events perspective on the issues that matter most to Latinos," he said. "This is an important moment for journalism in the U.S. and for the U.S. Hispanic community."