News Corp. and Colombian broadcaster RCN Television Group will create a new Spanish-language broadcast network: MundoFox.
The network will look to compete with the two big existing networks: Univision and Comcast Corp.'s Telemundo. MundoFox expects to launch in the fall, reaching 75% of Hispanic TV homes. There are 50-plus million homes of Hispanic or Latino origin.
"There is an increasing demand for quality Spanish-language content in the U.S. from both viewers and advertisers,” Hernan Lopez, president/CEO of Fox International Channels, stated. The 2010 census says 16.3% of the U.S. is of Latino or Hispanic origin. In a couple of decades, estimates are that this number will grow to over 50%.
The network's name and business are an outgrowth of Fox's Latin American video-on-demand service, mundofox.com.
Lopez added that News Corp. saw similar audience dynamics in play 25 years ago, when it launched the Fox network. In that case, it was primarily targeting younger TV viewers.
Other contributing programmers come from mostly in-house News Corp. channels/sources including Fox International, Fox Deportes (a Latino-focused cable sports channel), and Shine Group.
Univision is the top Hispanic network -- well ahead of Comcast Corp.'s Telemundo. In specific periods during the year, Univision beats some English-language networks -- specifically in summer.