RALEIGH, N.C. — Two of the state's largest privately held media companies agreed Wednesday to form an arrangement in which they will share news and information aimed at the state's burgeoning Hispanic population.

Capitol Broadcasting Company

and the

Que Pasa Media Network

will share resources and explore joint, local news and business opportunities under the new arrangement, executives from both companies announced. Financial details were not disclosed.

Under the new arrangement the two companies will share news and information, the companies said in a written news release. For example, WRAL-TV, which is owned by CBC, will provide the local weather forecasts for distribution within the Que Pasa radio network and the three newspapers. Breaking news coverage would be shared, as well, the media outlets said.

Que Pasa will share news and information concerning the Hispanic community that may be of interest to the larger, majority community.

The two companies will also be exploring Spanish language television opportunities, among others.

"We believe this joint venture is a logical step in assisting Hispanics throughout North Carolina," said Jim Goodmon, president and CEO of CBC. "CBC is excited to be a part of this joint venture. It has significant potential to benefit all North Carolinians."

CBC, based in Raleigh, is a diversified communications company that includes five television stations, two radio stations, and the Durham Bulls baseball team, among other interests. CBC's flagship television station is WRAL-TV, the local CBS Affiliate. It has other television stations in Durham, Charlotte and Wilmington. CBC is also a leader in new technologies, setting the standard for delivery of local news on digital television, the Internet and mobile devices.

Que Pasa, headquartered in Winston-Salem, is the state's largest Hispanic media communications company with eight Spanish language AM radio stations, and three Spanish language newspapers in Charlotte, Raleigh/Durham, and Greensboro/Winston-Salem.

"North Carolina has experienced the highest growth rate in the nation of Hispanic population," said Jose Isasi, CEO and president of Que Pasa, adding that more than 800,000 Hispanics with $12 billion in buying power now live in North Carolina. "This influx has provided substantial opportunities for businesses across the state."

"Our strategy has always been local, local, local," said Jimmy Goodmon, vice president and general manager of the CBC New Media Group, who led the negotiations for CBC. "There are a number of places where our state's Hispanic population can find national and international news and information. Our focus, our differentiation point, is in our ability to provide the Hispanic Community with first class local news and information. By bringing the resources of CBC to the table, we can help Que Pasa better provide these critical local news services to this emerging market."