Miami Beach, Florida-based Telemundo Group Inc and Reuters Television Ltd have an agreement to create a Spanish language television news network along with three other media firms to begin operation sometime in the second quarter and will together control more than 51%: the 24-hour service will be named TeleNoticias and be transmitted via satellite to cable and broadcast outlets in Latin America, Spain and the US; the deal is subject to approval of a US bankruptcy court overseeing Telemundo’s current bankruptcy proceedings; negotiations are underway to add a Brazilian partner to the project and a final agreement with the unidentified firm could be announced in February; the Spanish-language network was valued at about $100m.
