Univision will launch a two-tiered streaming service next year, as the Spanish-language streaming battle heats up.

Univision's PrendeTV will offer free ad-supported content as well as a premium service. The free version will include originals, more recent major studio films as well as new features including live sports and a 24/7 news service.

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Under new leadership, Univision is pushing into streaming with PrendeTV, a free Spanish-language streaming service expected to launch this quarter. And with so many new entrants into the space, it will face tough competition.

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