MundoFox is the name of a new Spanish-language channel geared to compete against Univision and Telemundo in the U.S. starting the Fall of 2012.
Fox International Channels (FIC) and Colombia’s RCN Television Group (RCN) have teamed up to launch the joint venture, which will include sports programming from Fox Deportes, original scripted series and two newscasts a day produced by RCN’s 24-hour cable-news channel.
According to the Wall Street Journal, MundoFox’s programming will largely will come from RCN and News Corp. production outlets, but the companies will also buy shows from third parties.
According to Variety, a search is underway for the person who will head MundoFox out of Los Angeles.
Sources told the WSJ both Fox and RCN will contribute cash to fund the network’s operations, which has a projected loss of less than $50 million in its first year.
“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 told Variety. “FOX saw similar dynamics in play 25 years ago when it launched the Fox network, and it would be a missed opportunity not to provide an alternative for the 50+ million Latino viewers who currently have limited options in Spanish-language broadcast television…. There is still room for growth in the U.S. Hispanic advertising market.”
More programming details of the new network will be revealed during NATPE in Miami this week.