Univision-ABC News Venture Officially Signed, Miami Likely Headquarters
By Verónica Villafañe, Media Moves
Two months after Univision and ABC News announced they would team up to create a 24-hour news operation targeting English-speaking Latinos, the networks have officially signed the definitive agreement to form the joint venture this week.
“We are pleased to come one step closer to our goal of delivering a new English-language news offering to U.S. audiences. Together, Univision News and ABC News will inform, engage and empower the thriving Latino community as well as provide news and information from a Latino perspective to a broader audience. Signing the definitive agreement is an important milestone of many to come,” said Univision News President Isaac Lee in a statement.
Confirmation of the signed deal comes days after the South Florida Business Journal reported a “mystery company” filed an application seeking $10.5 million in incentives from Miami-Dade County and the state of Florida to create 346 jobs and establish its business there. Details in the application give strong indication that company is connected to Univision:
“We are a leading media company that is one of the top five networks in the U.S…. Headquartered in New York City, the company owns and/or operates television stations in the U.S. and 69 radio stations, with television network operations in Miami and other major cities throughout the U.S…The company has agreed in principal to form a joint venture with another major media network dedicated to providing uncompromising coverage of current events with a unique perspective.”
The incentive application states “Project Vision” would create 346 new jobs with average salaries of $81,110 and also invest $274.5 million to expand a unit of the company’s existing facility by 150,000 square feet.
The Miami-Dade County Commission approved a $3.5 million job growth incentive offer for “Project Vision” on July 17. The company is seeking an additional $7 million in state incentives.
A Univision spokeswoman would not comment on the incentive application or on the Journal’s article.
This article was first published in Media Moves.
Veronica Villafañe is an Emmy award-winning journalist, who’s worked as an on-air reporter in Spanish and English-language television news. She’s worked for Univision, Telemundo, CNN en Español and Los Angeles Fox and UPN stations before diving into a convergence model at the San Jose Mercury News. She was president of the National Association of Hispanic Journalists from 2004 to 2006 and is currently the Managing Editor of IntersectionsSouthLA.org. She is also a freelance writer, reporter and producer and a columnist for Poder Hispanic magazine.
