Fox News on Friday announced a deal to acquire Univision, which it said will “bring unparalleled entertainment to millions of Americans.”
The company also said it would create a new online news channel and a new “brand” for the channel.
The announcement comes a day after the company said it had reached a deal in which it would pay $1.4 billion for Univision for a 21 percent stake in the company.
Under the terms of the deal, Fox News said it will retain the rights to the “Fox News Channel” brand for up to six years, while Univision will retain ownership of the brand for another six years.
The deal also includes the Univision brand in Fox News’ portfolio of branded properties, including Fox News Kids and Fox News Special Report.
The move comes on the heels of Univision announcing that it would buy out Fox News, which includes the channel’s parent company, 21st Century Fox.
The news comes a week after Fox News Chairman and CEO Roger Ailes resigned amid sexual harassment allegations.
Univision also announced it was cutting its ties with Fox News.
“The news about Univision’s acquisition of Fox News comes as a result of a number of factors, including the impact of the Weinstein allegations, and the company’s strategic alignment with a number, including CNN, Time Warner, AT&T, Verizon and Charter Communications,” the company wrote in a statement Friday.
We are confident in the future of our news network, and look forward to working with them to continue our mission to bring people together in a truly inclusive and informative space.” “
We thank all of the partners that have supported our brand and editorial mission.
We are confident in the future of our news network, and look forward to working with them to continue our mission to bring people together in a truly inclusive and informative space.”
Univision did not provide a timeline for when it would be able to announce the news of the Fox deal.
Univison is owned by Univision Communications, which also owns Telemundo, TBS, and Telemax, the cable network that is Fox News affiliates’ flagship network.