ABC NEWS, UNIVISION TO LAUNCH NEW NETWORK

Mon May 7, 2012 9:38am EDT

* Unnamed channel will launch in 2013

* Targeting Hispanics

* Will share newsgathering and production costs

May 7 (Reuters) - ABC News and Univision are launching a new network in a joint venture targeting Hispanics, the companies said on Monday.

The unnamed English-language channel will launch in 2013.

ABC and Univision will share newsgathering and production costs. Exact terms of the venture were not disclosed.

"Our powerful premier news brand, combined with the world's leading Hispanic media company, will create the nation's first news and lifestyle channel targeted to this quickly expanding and important community," Anne Sweeney, co-chair, Disney Media Networks and president, Disney/ABC Television Group, said in a statement.

Walt Disney Co owns ABC News.