Mexican billionaire Carlos Slim’s telecommunications corporation, American Movil, announced on Tuesday that it’s launching a television channel that will focus on Mexican audiences in the United States later in the year, according to Reuters.

The channel, Nuestra Vision, will compete with networks such as Univision and Telemundo.

"Nuestra Vision is focused on Mexicans, made by Mexicans and transmitted from Mexico," a voice-over said in a promotional video for the channel. Reuters reported that Nuestra Vision plans to “broadcast news, movies and sports highlights.” The company also planned to push Mexican heritage.

Univision and Grupo Televisa of Mexico also made an announcement, saying that the companies are “combining their programming units,” the Los Angeles Times reported.

“By unifying our production of content for distribution on multiple platforms in Mexico and the United States, we will take advantage of the unique opportunity that Televisa and Univision have to compete more effectively in an increasingly complex and fragmented industry,” Televisa’s Chairman and Chief Executive Emilio Azcárraga Jean said.

America Movil is one of the biggest corporations in the world, which has helped Slim dominate the Mexican telecommunications market for years.