May 7 (Bloomberg) -- Walt Disney Co.’s ABC News and Univision Communications Inc. will create an English-language TV network for Hispanics, courting the fastest-growing U.S. population segment.
A website, along with mobile and social-media content, is expected to debut this summer, the companies said today in a statement. The as-yet unnamed cable television channel is expected to start in 2013, they said.
Hispanics represent 16 percent of the U.S. population, a number that may almost double to 30 percent by 2050, the companies said. Editorial coverage will focus on issues most relevant for U.S. Hispanics, including the economy, jobs, health care, immigration, education, politics, entertainment and health, the partners said.
The companies plan to name a management team by mid-September. The network will have anchors and correspondents in major cities across the U.S. ABC News and Univision News will share newsgathering and production resources, according to the statement.
Shares of Burbank, California-based Disney gained 1.3 percent to $43.47 at 11:47 a.m. in New York. The stock had risen 14 percent this year before today.
Univision, the largest U.S. Spanish-language broadcaster, is owned by Saban Capital Group Inc., Madison Dearborn Partners LLC, Providence Equity Partners Inc., TPG Capital and Thomas H. Lee Partners LP. Univision is based in New York.
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