Local television broadcasting companies Fox, Tribune Media and Univision have joined forces with Timeline Labs to announce NewCoin LLC, a data venture they say addresses deficiencies in local market television audience measurement. NewCoin will use the available data-gathering power and “emerging” technologies to create a broader-based tool to measure audiences across the entire spectrum of linear and digital platforms.

The Dallas market will be used to develop and beta test the service before it is scaled to other markets. The test will involve sharing insights with the local ad community for input and development. Timeline Labs says it’s a leading SaaS platform enabling media companies and brands to analyze billions of social media messages daily in real time. Timeline will use technology provided by SeaChange International to bolster NewCoin’s ability to deliver comprehensive audience measurement.

“We know our Hispanic audiences are driving media use on linear and digital platforms and are pleased to work with Timeline Labs to develop a much needed tool to effectively capture total media consumption,” Kevin Cuddihy, President of Local Media at Univision Communications, said in today’s announcement. Added Fox Television Stations CEO Jack Abernethy, “We are glad to be partnering with Timeline Labs and expect that what works in Dallas will move to other local markets.” Tribune Media President Larry Wertz said, “We believe the NewCoin initiative could lead to a much needed accurate and comprehensive audience measurement solution across all platforms.”