Singer and actor Marc Anthony has spawned a new Miami-based Latino entertainment company, titled Magnus Media LLC.

The Nuyorican former husband to Jennifer Lopez has expanded his résumé, adding business owner to it, perhaps taking cues from hip-hop mogul Jay Z.

Magnus Media is a corporation charged with empowering up-and-coming Latino artists, and it describes itself as "a diversified entertainment company focused on developing new ventures that bridge content creation and commerce."

Latino owned, run and operated, Magnus has taken on the ambitious task of using its devices to invest in Latino artists and content development while building relationships with global brands. Not only this, but Anthony intends to do more than shape a company, he wants to surpass the traditional endorsement model.

"Magnus is a company that is long overdue," Anthony in a statement said.

"It's simple, really. Latino artists are among some of the world's biggest brands. Unfortunately though, many of my colleagues, and new artists coming up, too, haven't had the support to turn that influence into long-term businesses that build value. We're going to change the game, and have a lot of fun doing it."

Michel Vega, a veteran agent and former head of Latin music at William Morris Endeavor and CEO of Magnus, spoke with Billboard. Vega said Anthony's active career has not faltered, but Anthony is focused on bringing more to the table than his own talents. Anthony's work as a notable singer, stage actor and screen actor has equipped him with the necessary marketing and A&R skills to involve himself with up-and-coming talent from an artist's point of view.

The novel company has announced several divisions, including film and television, a music label, music publishing, artist management, digital content creation and an "entertainment-centric marketing practice." Exclusively focusing on the development and establishment of Latino artists, the company is poised to launch creative, prolific and driven artists, who will flood social media platforms.

"The time is right because the digital revolution has changed everything. Now the consumers are empowered and the content creators have amazing tools that were never available before. The content creator has a direct relationship with fans and with some guidance and some infrastructure in today's world, with today's technology, the sky's the limit," Vega stated, who communicated Magnus' desire to go beyond licensing, create new programming and contribute to Latino success stories.

Magnus is expected to announce its artist-roster and merchandising soon.