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News Corp. is teaming up with a Colombian television broadcaster to create a Spanish-language broadcast network for the U.S., attempting to challenge Univision Communications Inc. and Comcast Corp.'s Telemundo.
The 'Kdabra' fantasy series is one of the programs Fox plans to contribute to the new MundoFox network.
MundoFox, owned by News Corp.'s Fox International Channels and Colombia's RCN Television SA, reflects a rush by media companies to cash in on the booming U.S. Hispanic population—one of the few significant growth opportunities for media companies in the U.S.
"Demographics are shifting," said Hernan Lopez, chief executive of Fox International Channels. "The advertising pie still has room for growth."
In the first nine months of last year, U.S. ad spending on Spanish-language TV rose 7.4% from a year earlier, while broad TV ad outlays rose only 2.3%, according to Kantar Media, an ad-tracking unit of WPP PLC. Hispanics accounted for 16.3% of the U.S. population in 2010 but could reach 30% in 2050, according to the U.S. Census Bureau.
News Corp. also owns The Wall Street Journal. RCN is part of the Organización Ardila Lülle conglomerate.
The TV dial already is crowded with dozens of Spanish-language networks
