US media conglomerate Hemisphere Media Group, focused on Spanish-speaking audiences and owner of several TV and streaming products available in Latin America, is exploring options that include a potential sale. The information was reported by Reuters this last Thursday, July 22nd, who quoted ‘people familiar with the matter’.
News are coming after several agreements that were recently announced in the US Hispanic market. One of them is the one on the merger between Televisa and Univision, who are planning to launch a new streaming platform next year, in the US and Latin America, as they have already confirmed.
According to Reuters, Hemisphere is working with advisers on the potential sale, but sources reported that there is no certainty that any deal will be reached. Sources requested anonymity to discuss the confidential matter. Up to now, no Hemisphere referent has expressed himself on this issue.
This year, Hemisphere Media Group has acquired 100% of the SVOD OTT Pantaya, aimed at US Hispanic audiences. According to the terms of the agreement, Hemisphere, who owned the platform at 25%, has agreed with Lionsgate -who owned the remaining 75%- to acquire Pantaya in a transaction valued at USD 124 million cash. The company also owns and operates pay TV channels Cinelatino, Pasiones, WAPA America, CentroAmerica TV, and Television Dominicana; in addition to WAPA TV in Puerto Rico and the Spanish-language content distribution company Snap Media. Hemisphere Media Group also has a stake in the ownership of the Colombian FTA TV channel Canal 1.