Spanish language broadcast network Univision and U.S. showbiz publication Variety announced a new Spanish-based entertainment news outlet, "Variety Latino - Powered by Univision," Tuesday. The joint venture is currently slated for a Feb. 27 debut.

The new Variety Latino network "will focus on providing Spanish speakers across the U.S. with unparalleled coverage of all aspects of the global entertainment industry," according to a Variety report. 

"This partnership brings together two trusted brands," said Isaac Lee, president of news for Univision Communications and CEO of Fusion. "No one knows show business better than Variety, and no other media company can even come close to Univision's undisputed ability to connect with and engage Hispanic audiences."

Variety Latino content will be powered by the website VarietyLatino.com, with content then being syndicated through Univision digital platforms and television stations.

"I am proud that Variety, an iconic brand in entertainment, is partnering with the most powerful voice for Hispanic content in America to deliver in-depth coverage and access to the biggest stories in the world of entertainment, all day on every device," said Michelle Sobrino, publisher of Variety.

"And as the first Hispanic publisher of Variety, I am gratified to be part of an organization that continues to break ground in its coverage of the industry."

Univision and Variety hope to launch Variety Latino in time for for the 2014 Academy Awards, an event that the new Spanish entertainment news outlet hopes to cover extensively. Univision and Variety already collaborate on "Primer Impacto," a short entertainment news segment available on all Univision platforms.

This isn't the only move Univision has recently made in an effort to expand its Latino audience. The media conglomerate announced in January that it would be moving into Canada with the formation of a new channel named Univision Canada that will replace the existing Telelatino's TLN en Español channel.

"We are pleased to be able to offer the Univision brand to Canada's growing Hispanic population," said John Cassaday, President and Chief Executive Officer of Corus Entertainment, the media group behind Telelatino. "The prestige and familiarity of Univision, and the calibre of their content, is a great addition to our portfolio of branded networks that include HBO Canada, ABC Spark, Nickelodeon Canada and OWN: Oprah Winfrey Network Canada."

Univision is one of the largest media companies in the United States and was ranked in 2013 as one of the top five networks in the United States regardless of language. Univision programming even beat out major national networks ABC, FOX, and NBC during the 2013 summer and winter lulls.

Univision is headquartered in New York City.