According to the LA Times, Fox is going to launch their rumored second 24/7 cable sports network, Fox Sports 2, in conjunction with Fox Sports 1 in August.
While FS1 is going to be dedicated to the more mainstream sports (college, MLB, NASCAR) and have more marketing behind it, FS2 will be the lesser known of the two:
"While Fox Sports 1 is getting a big marketing push behind it, Fox Sports 2 will have a much softer launch. It is unclear what sports will be on the new channel initially besides mixed martial arts. Fox Sports 1 already has an impressive lineup for a start-up that includes NASCAR, college football and basketball, with regular-season and postseason Major League Baseball coming in 2014."
Since FS2 is taking the place of Fuel TV, we can assume it will heavy up on the UFC coverage and maybe air some of the leftover soccer coverage from Fox Soccer, which is biting the dust.
Just by the naming of Fox Sports 1, you knew a Fox Sports 2 wouldn't be far behind. It would be a surprise though to see it come into being right alongside FS1. Launching not one but two 24/7 sports networks on the same day would be quite the feat. Between these two networks and their already existing regional stations (Fox Sports West, etc), News Corp is definitely expanding its sports coverage in a huge way. When you throw in the talent they've been poaching from ESPN and Canada, it looks like we have a lot to look forward to come August.