Rupert Murdoch’s News Corp. announced plans to launch a new broadcast network in fall 2012, according to The Hollywood Reporter.

The Spanish-language network, MundoFox, is seen as a competitor to Univision and Telemundo. The initiative is a partnership between News Corp. and Colombian broadcaster RCN Television, the story reports.

The network will be part of the Fox International Channels unit of News Corp. The companies announced that they will aim to bring “a similar sensibility as the Fox network” to Hispanic audiences, the story reports.

Deals are being finalized in top U.S. Hispanic markets, with the partners aiming for coverage in 75% of the nation’s households, the story says.

Fox International Channels President and CEO Hernan Lopez said: “There is an increasing demand for quality Spanish-language content in the U.S. from both viewers and advertisers. Fox saw similar dynamics in play 25 years ago when it launched the Fox network, and it would be a missed opportunity not to provide an alternative for the 50-plus million Latino viewers who currently have limited options in Spanish-language broadcast television. Our partnership with RCN will help us do this and we aim do it in a big way.”

The story adds: “Content for the new broadcast network will come from RCN, Fox International Channels, sports network Fox Deportes, News Corp.’s Shine Group, which will produce its first original Spanish-language content, and more.”