Telefónica has agreed a multi-year rights deal which will see it launch a dedicated F1 channel on its IPTV platform Movistar TV.
The agreement with Formula One Management, the commercial rights-holder for the motor racing series, starts with the forthcoming 2014 F1 season.
Telefónica said that the new channel will provide live coverage of all races, Qualifying and Practice sessions through any connected device, both inside and outside the home.
Movistar F1 will also include original content and supplementary information about the sport.
The new channel will launch in time for the 2014 season-opener in Melbourne, Australia on March 16.
Coverage will be free of commercial breaks during live coverage.
Coverage will include access to up to six different feeds – similar to that offered by the Sky Sports F1 service.
Spanish commercial broadcaster Antena 3 and Catalan public-service broadcaster TV3 last month agreed extensions to rights deals for Formula 1 covering the 2014 and 2015 seasons.