Writes Falco:

The debates announced yesterday presented an ideal opportunity to tap one of the two best journalists in the business who have a broad understanding of the domestic and international issues facing this country, understand the Hispanic community better than anyone else and are fully bilingual: Jorge Ramos and Maria Elena Salinas…

Since you have already made your decision on moderators for the debates and have neglected to have someone speak credibly to the concerns of Hispanics in America, Univision would be willing to create a forum for the presidential candidates to address this sector of our society.

Falco’s full letter is embedded after the jump.

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“Univision has a deep and important relationship with the U.S. Hispanic audience,” says ABC News president Ben Sherwood in a note to staff, obtained by TVNewser. “By sharing our resources, we will inform, entertain and empower the enormously influential Hispanic American community and many others interested in our programming.”

Sherwood says the venture “is subject to the completion of definitive agreements.” This includes getting the big cable systems, including Comcast, Time Warner, Cox and Charter to carry the network.

Sherwood, along with Cesar Conde, president of Univision and Isaac Lee the president of Univision News, will hold a town hall with staffers at 12:30pmET to answer any questions.

The Wall Street Journal was first to report talks of a partnership in February.

Former NBC COO Randy Falco is now CEO of Univision Communications. Under his watch, the company has launched three cable channels, Univision Deportes, Univision tlNovelas and Univision Noticias.

Falco was president of NBC Broadcasting when the network launched MSNBC in 1996. Falco was also instrumental in NBC’s acquisition of Univision competitor Telemundo in 2002.

ABC’s owner, Disney, operates three of the top 10 cable networks: Disney Channel, ESPN and ABC Family. ABC News announced plans for a 24-hour newschannel in 1996, but abandoned the idea in May of that year after NBC/Microsoft and News Corp. ramped up plans for MSNBC and Fox News Channel. In 1982, ABC and Westinghouse partnered for the Satellite News Channel. That venture lasted 16 months, failing after not getting significant cable carriage.

Sherwood’s note after the jump…

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The new channel would plunge Disney’s ABC News more directly into the fractious cable-news wars, competing alongside Time Warner Inc’s CNN, News Corp.’s Fox News and Comcast Corp.’s MSNBC. And it would mark a big strategic shift for Univision, which since its beginnings five decades ago has been defined by its Spanish broadcasts, but which will now compete for English speakers.

WSJ reports the talks have been lead by ABC News President Ben Sherwood and Univision Networks President Cesar Conde. ABC News is not commenting on the report.

The deal looks good on paper. It will begin to amortize the costs of ABC News, (while creating many long days for ABC Newsers.) Disney has proven cable clout. And Univision, which boasts its own news division and studios in Miami, provides an attractive and growing young audience: 1-in-5 American schoolchildren is Hispanic, 1-in-4 newborns is Hispanic.

Univision Communications CEO Randy Falco has been here before. He was president of NBC Broadcasting when his network, along with Microsoft, launched MSNBC in 1996. ABC News abandoned plans in May of that year to launch its own news channel after NBC and News Corp. ramped up plans for MSNBC and Fox News Channel. Falco was also instrumental in NBC’s acquisition of Univision competitor Telemundo in 2002.

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“The Board unanimously agreed that Randy’s track record and expertise make him the ideal executive to lead Univision’s future growth, said Haim Saban, executive chairman of the Univision Board of Directors. Univision is owned by a consortium of investors, led by Saban.

Falco spent more than 30 years at NBC, lastly as president and COO of the TV group. In 2002, he oversaw NBC’s acquisition of Telemundo.

Falco takes over for Joe Uva who left Univision in March.

Press release after the jump…

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A statement from the network says that “he has chosen not to renew his employment agreement in order to be able to seek other opportunities.”

In the interim, Univision board member and executive chairman Haim Saban will assume additional responsibilities until a new CEO is named.

A tipster tells TVNewser that the new CEO is likely to be former NBC Television Group president and AOL CEO Randy Falco, who joined Univision in January as executive VP and COO.

Univision is one of the country’s largest broadcasters, regardless of language. It is also home to a number of TV news programs seen by millions of Hispanics every week, including its Sunday public affairs show “Al Punto con Jorge Ramos” and “Noticiero Univision.”

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