Globosat, Caracol to Launch Spanish-Language Channel in U.S.
Look out Univision and Telemundo
Brazilian pay TV outfit Globosat and Colombian network Caracol TV are aiming to become the latest players to enter the lucrative U.S. Hispanic market under a joint venture.
The letter was signed by Caracol TV president Gonzalo Cordoba and Globosat director general Alberto Pecegueiro.
Best known for its telenovelas and drug-themed dramas such as Sin Tetas No Hay Paraiso (Without Breasts There Is No Paradise), Caracol produces 5,200 hours of content a year, including co-productions with Sony Pictures Television and Telemundo. Globosat, a division of media giant Globo, operates 34 pay TV channels in Brazil.
"It is natural for us at this point to take a closer look at the fastest growing U.S. sector, the Hispanic paid television market," Pecegueiro said.
Programming details will be announced later.