July 22 (Reuters) - Hemisphere Media Group Inc, a
U.S. streaming and broadcasting company focused on attracting
Hispanic viewers, is exploring options that include a potential
sale, according to people familiar with the matter.
The sale deliberations come amid a wave of dealmaking in the
Spanish-language TV industry. Hemisphere's bigger rival
Univision Communications Inc agreed in April to merge with Grupo
Televisa SAB's media assets in a $4.8 billion deal, amid
competitive pressure from Comcast Corp's Telemundo.
Hemisphere is working with advisers on the potential sale,
which could attract other companies and private equity firms,
the sources said. There is no certainty that any deal will be
reached, the sources added, requesting anonymity to discuss the
A spokesperson for Hemisphere declined to comment.
Programming targeting Spanish-speaking viewers has become a
key battlefield in the war for eyeballs among media companies,
including Netflix Inc and Amazon.com Inc's
prime service. The U.S. Hispanic population is expected to grow
to 75 million by 2030 from 60.5 million in 2020.
Hemisphere became the sole owner of Spanish-language
streaming service Pantaya earlier this year, after paying about
$124 million for Lions Gate Entertainments 75% stake.
Pantaya currently boasts about 900,000 paying subscribers
and expects the number to grow to 2.5 million to 3.0 million by
the end of 2025.
Hemisphere Media also owns and operates five U.S. Hispanic
cable networks, two Latin American cable networks, and a
broadcast television network in Puerto Rico. The Miami-based
company has a market capitalization of about $460 million, and
carried debt as of the end of March of about $250 million.
(Reporting by Krystal Hu in New York; Editing by Steve