ABC News and Univision announced Monday that they are planning to launch an English-language cable channel aimed at Latinos.

The channel, which does not have a name yet, is set to debut in 2013. In an announcement on “Good Morning America,” ABC’s George Stephanopoulos said that it would be a “24/7 news, information and lifestyle network.” Both ABC News and Univision will provide journalists for the channel.

In a release, the networks noted that Latinos are “the youngest and fastest-growing demographic in the U.S.” — underscoring the potentially lucrative nature of the deal. A partnership with Univision, the largest Spanish-language network in the country, could give ABC a powerful new entry point into the Latino market — as well as a profit center to bolster its broadcast and news divisions.

For Univision, the venture would be a chance to broaden its reach and become an even bigger player on the media scene. Crucially, it is also an opportunity to attract the growing number of Latinos who want their news and programming in English

The network will reportedly be based in Miami — home of many of the country’s biggest Spanish channels.

Read the full story at The Huffington Post