Hemisphere Media Group Stockholders Approve Acquisition by Gato Investments LP, a Portfolio Investment of Searchlight Capital Partners, L.P.

MIAMI, September 8, 2022 /PRNewswire/ — Hemisphere Media Group, Inc. (Nasdaq: HMTV) (“Hemisphere” or the “Company”), a leading media company for U.S. television and digital content platforms, announced today that its shareholders have approved the acquisition of the Company by a subsidiary of Gato Investments LP (“Gato”), a portfolio investment of Searchlight Capital Partners, LP (“Searchlight”).

The final results of the vote will be filed on a Form 8-K with the US Securities and Exchange Commission.

Subject to the terms of the definitive merger agreement announced on May 10, 2022the shareholders of the Company will receive $7.00 per share in cash. The Company expects to announce the consummation of the merger within the next few days, subject to the satisfaction of certain customary closing conditions. Upon closing of the transaction, the Company’s common shares will no longer be listed on the Nasdaq Stock Market.

Forward-looking statements

This communication includes forward-looking statements within the meaning of the “safe harbor” provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21 E of the Securities Exchange Act of 1934, as amended. amendments, including statements about the potential benefits of the proposed acquisition, anticipated growth rates, the company’s plans, objectives and expectations, and the anticipated timing of closing of the proposed transaction. When used in this communication, the words “believes”, “estimates”, “plans”, “expects”, “should”, “could”, “outlook”, “potential”, “forecast”, “target” and ” anticipates” and similar expressions relating to the Company or its management are intended to identify forward-looking statements. Forward-looking statements are based on a number of assumptions about future events and are subject to various risks, uncertainties and other factors that may cause actual results to differ materially from the opinions, beliefs, projections and estimates expressed in such statements. These risks, uncertainties and other factors include, but are not limited to, those discussed under “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021filed with the SEC on March 16, 2022, and the following: (1) the timing, receipt, and terms and conditions of any required governmental or regulatory approval of the proposed transaction that could reduce anticipated benefits or cause the parties to abandon the proposed transaction; (2) risks related to the satisfaction of the conditions for closing (including the inability to obtain the necessary regulatory approvals or the necessary approvals of the Company’s shareholders) in the anticipated time frame or at all; (3) the risk that any announcement related to the proposed transaction may have an adverse effect on the market price of the Company’s common stock; (4) discontinuation of the proposed transaction that makes it more difficult to maintain business and operating relationships, including retaining and hiring key personnel and maintaining relationships with the Company’s customers, suppliers, and others with whom it does business; (5) the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed transaction agreement entered into in connection with the proposed transaction; (6) risks related to the disruption of management’s attention to the Company’s ongoing business operations due to the proposed transaction; (7) significant transaction costs; (8) the risk of litigation and/or regulatory actions related to the proposed transaction or adverse outcomes of litigation and proceedings currently pending or litigation and proceedings that may arise in the future; (9) other business effects, including the effects of industry, market, economic, political or regulatory conditions; (10) the ability to meet expectations regarding the timing and completion of the proposed transaction; (11) information technology system failures, data security breaches, data privacy compliance, network and cybersecurity outages, malware or ransomware attacks; and (12) changes resulting from the COVID-19 pandemic, which could exacerbate any of the risks described above. Readers are cautioned not to place undue reliance on forward-looking statements made by or on behalf of the Company. Each of those statements speaks only of the day it was made. The Company undertakes no obligation to update or revise any forward-looking statements. The factors described above cannot be controlled by the Company.

About Hemisphere Media Group, Inc.

Hemisphere Media Group, Inc. (HMTV) is the only publicly traded pure-play US media company serving the high-growth US Hispanic and Latin American markets with leading television platforms, streaming and digital content. Based in Miami FloridaHemisphere owns and operates five leading US Hispanic cable networks, two Latin American cable networks, the leading broadcast television network in Puerto Ricothe leading Spanish-language subscription streaming service in the US, a Spanish-language content distribution company and has an ownership interest in a leading broadcast television network in Colombia.

About Spotlight

Searchlight is a global private investment firm with more than $10 billion in assets under management and offices in New York, London Y Toronto. Searchlight seeks to invest in businesses where its long-term capital and strategic support accelerate value creation for all stakeholders. For more information please visit www.searchlightcap.com.

Edelman Smithfield for Hemisphere Media Group
ashley firlan
[email protected]


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SOURCE Hemisphere Media Group, Inc.

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