A sign is posted in front of the Univision building. | Photo by Mario Tama/Getty Images

Univision will launch a Spanish-language streaming service next year that sounds like a bit of a hybrid of Peacock and Netflix, with both a free tier as well as a paid plan that will focus on premium originals.

The new service will comprise a “vast content scope, expansive library and more Spanish-language originals than any other streaming service,” Univision said in a press release on Monday. The tiered streaming service will effectively pluck the “best” parts of its existing services, PrendeTV, VIX, and Univision NOW and combine them with the company’s latest content haul gobbled up by way of its acquisition of Televisa, an IP and production grab for which Univision agreed to pay $5 billion.

The company previously acquired VIX,…

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