Gato Investments LP, a Portfolio Investment of Searchlight Capital Partners, LP, Completes Acquisition of Hemisphere Media Group
MIAMI, September 13, 2022 /PRNewswire/ — Gato Investments LP (“Gato”), a portfolio investment of Searchlight Capital Partners, LP (“Searchlight”), and Hemisphere Media Group, Inc. (“Hemisphere” or the “Company”), a leading pure-play The American media company targeting the high-growth Hispanic and Latin American markets with major broadcast, cable television and digital content platforms, today announced the completion of the acquisition of Hemisphere by Gato. The transaction was previously announced on May 9, 2022and approved by the shareholders of Hemisphere at the extraordinary meeting of shareholders held on September 8, 2022.
Subject to the terms of the definitive merger agreement, Hemisphere shareholders will receive $7.00 per Class A common stock or Class B common stock. Hemisphere common stock has ceased trading and will be delisted from the Nasdaq stock market.
This communication contains forward-looking statements within the meaning of the “safe harbor” provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. including statements about the potential benefits of the proposed acquisition, expected growth rates, the Company’s plans, objectives, expectations and expected timing of closing of the proposed transaction. When used in this communication, the words “believes”, “estimates”, “plans”, “expects”, “should”, “could”, “prospect”, “potential”, “anticipates”, “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 “Factors of Risk” in the company’s annual report on Form 10-K for the year ended December 31, 2021filed with the SEC on March 16, 2022. Readers are cautioned not to place undue reliance on any forward-looking statements made by or on behalf of the Company. Each of these declarations is valid only from the day on which it was made. The Company assumes 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 an American pure-play media company targeting the high-growth American Hispanic and Latin American markets with leading television, streaming and digital content platforms. Based at Miami, FloridaHemisphere owns and operates five major Hispanic American cable networks, two Latin American cable networks, the main television broadcast network in Porto Ricothe first Spanish-language subscription streaming service in the United States, a Spanish-language content distribution company and owns a stake in a major television broadcast network in the United States. Colombia.
About the projector
Searchlight is a global private investment firm with over $10 billion of assets under management and office space New York, London and 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
SOURCE Hemisphere Media Group, Inc.