A website, along with social media and mobile content sites, are expected to launch this summer. A new TV channel, which has not yet been named, will launch next year. It will be staffed by journalists from ABC News and Univision News.
ABC News president Ben Sherwood said in a statement, "All of us at ABC News are thrilled to work with Univision. Our mission is clear: To offer culturally relevant news, information and lifestyle programming to the large and thriving Latino audience in the United States. In these times of rapid change, we are very excited about this opportunity."
Coverage will focus on issues most relevant to Hispanics, including the economy, health care, immigration, entertainment and politics.
ABC News contributed to this report.