The Univision/ABC 24-hour news network will be headquartered in Miami. The Miami Herald reports Univision Networks President César Conde on Monday confirmed the joint venture will be housed in Miami and not California or New York, as it was once speculated.
The new cable network, set to launch by the summer of 2013, will employ about 400 people.
According to the Herald, the Beacon Council helped Univision and ABC secure about $3.5 million in local subsidies for the new network over the next five years. Documents filed with Miami-Dade County indicate the partnership will spend about $275 million to set up the network. Plans include the contruction of a 150,000-square-foot headquarter facility – too large for expansion at Univision’s Doral location.