updated 5/10/2006 7:09:40 PM ET 2006-05-10T23:09:40

Yahoo Inc. and Spanish-language TV network Telemundo launched a cobranded Web site Wednesday that features content catering to the growing U.S. Hispanic audience.

The Web site, dubbed “Yahoo Telemundo,” replaces Spanish-language Internet portals previously operated by Sunnyvale-based Yahoo and Miami-based Telemundo, a unit of NBC Universal Television Group.

Under terms of the venture, the two companies will share advertising revenue and merge their existing online staffs to work on the new site.

Details of the profit split were not disclosed. The companies said neither firm made an equity investment in the other as part of the venture.

Spanish-language versions of Yahoo’s online service that cater to international markets will not be cobranded, Yahoo said.

Full integration of Telemundo.com and Yahoo’s former U.S. Spanish-language site is expected to take several months, the companies said.

The site will incorporate streaming video and other content from Telemundo programming, including sports, music and other entertainment.

“This merger provides us with an excellent platform to position Telemundo for the future,” Randy Falco, chief operating officer for NBC Universal, said in a statement.

The companies are banking on higher advertising revenue from merging their sites and by luring Hispanics users who frequent other Yahoo locations.

The combined portal may help Telemundo compete with Los Angeles-based rival Univision Communications Inc., which runs its own Spanish-language Web site.

Telemundo.com drew 246,000 visitors last month, according to comScore Media Metrix.

In contrast, Univision.com received 1.9 million unique visitors during the same period, the Web tracking firm said.

Copyright 2006 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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