Competition heats up among Spanish-language media firms

Soccer, spicy love stories, a search for a next-generation Latino boy band and even NASCAR racing have become armaments in a stepped-up battle for Latino television viewers.

For years, the two established Spanish-language media companies -- Univision Communications and NBCUniversal's Telemundo -- have dominated the space. But with more than $2.5 billion in annual advertising revenue up for grabs, Latino media has become one of the hottest and most competitive corners of the industry. The landscape has shifted dramatically in the last two years. Established players such as Walt Disney, 21st Century Fox and Discovery Communications have crowded into the space to try to grab a share.