|Bid||12.53 x 1100|
|Ask||13.50 x 800|
|Day's Range||12.16 - 12.57|
|52 Week Range||7.64 - 14.44|
|Beta (5Y Monthly)||1.21|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 10, 2021 - May 14, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||15.50|
Hemisphere Media Group CEO Alan Sokol joined Yahoo Finance Live to break down Hemisphere's recent purchase of Lionsgate's stake in streaming service for $124M.
U.S. Hispanic and Latin American market-focused media company Hemisphere Media Group Inc (NASDAQ: HMTV) acquired the remaining 75% stake of U.S. Hispanic Subscription Video-on-Demand Service Pantaya for $124 million in cash from Lionsgate, gaining full ownership of Pantaya. Pantaya launched in August 2017 via Hemisphere, and Lionsgate joint venture has 0.9 million paying subscribers. The monthly paid subscription service starts from $5.99. The service is accessible through its website, app, and distribution partners like Apple Inc (NASDAQ: AAPL), Amazon.Com Inc (NASDAQ: AMZN), Alphabet Inc's (NASDAQ: GOOGL) (NASDAQ: GOOG) Google, and Roku Inc (NASDAQ: ROKU). Hemisphere plans to boost content investment aiming towards a higher U.S. Hispanic subscriber base as per CEO Alan Sokol. Pantaya, Lionsgate, and STARZPLAY (the international premium subscription service of STARZ) will uphold a strategic content relationship encompassing Spanish-language motion picture and television co-productions along with Pantaya's continued licensing of Spanish-language content from Lionsgate. The acquisition will be financed by cash on hand and a $50 million term loan. The company has also arranged for a $30 million corporate revolving credit facility. Hemisphere held $134.5 million in cash and cash equivalents as of Dec. 31, 2020. Price action: HMTV shares traded higher by 8.76% at $12.67 on the last check Thursday. See more from BenzingaClick here for options trades from BenzingaAmazon Brand Rollup Thrasio Lures Away JC Penney's CFO: BloombergUK Antitrust Watchdog Launches Probe On Facebook's 0M Giphy Acquisition: Report© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Hemisphere Media Group said it is acquiring the remaining 75% stake of Pantaya, the U.S. Hispanic subscription video streaming service, from Lionsgate for about $124 million in cash. Pantaya was launched in August 2017 through a joint venture between Hemisphere and Lionsgate; previously, Hemisphere owned 25% of Pantaya. Currently, Pantaya has about 900,000 paying subscribers […]