There will soon be another viewing option for Latinos in the United States…

Brazilian pay television outfit Globosat and Colombian network Caracol TV are aiming to become the latest players to enter the lucrative U.S. Hispanic market under a joint venture.

In a company statement, Colombia’s top broadcaster said it has signed a memorandum of understanding with Globosat to launch a stateside Spanish-language pay TV channel in 2015.

The letter was signed by Caracol TV president Gonzalo Cordoba and Globosat director general Alberto Pecegueiro.

The new channel will vie for a piece of the fast-growing Latino market led by Univision and NBC Universal’s Telemundo.

Best known for its telenovelas and drug-themed dramas like Sin Tetas No Hay Paraiso, Caracol produces 5,200 hours of content a year, including co-productions with Sony Pictures Television and Telemundo. Globosat, a division of media giant Globo, operates 34 pay TV channels in Brazil.

“It is natural for us at this point to take a closer look at the fastest growing U.S. sector, the Hispanic paid television market,” Pecegueiro said.

Programming details will be announced later.