The two companies are investing $275 million in the network, which will create about 350 jobs, Cesar Conde, president of Univision Networks, told a luncheon of Miami business leaders also attended by Florida Governor Rick Scott.
“The new ABC-Univision network will be headquartered in a state-of-the art facility and will retain and attract the very best talent in the industry,” Conde said.
In the lead-up to the launch, the two companies explored locations in New York, Houston and LA, before opting to put the new network’s production facilities in Miami, where Univision already has its HQ, Reuters reported.
The companies each own 50% of the venture and will share operating costs.
“From our new headquarters in South Florida, we’ll build the network of the future to serve the many millions of Hispanics all across America,” Ben Sherwood, president of ABC News said in a statement.
The JV will target a wealthier audience of ‘acculturated’ Hispanics who are comfortable with the English language, while remaining rooted in their own culture.
Editorial coverage will focus on the economy, entertainment, music, food, immigration, education, politics, and health, the company said.
The new net also announced that Miguel Ferrer, a former senior editor at the Huffington Post will be its first executive producer for digital content. The President and CEO and other senior execs are expected to be announced later this year, the companies said.