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HEMISPHERE MEDIA GROUP, INC.

(HMTV)
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Spanish-language Hemisphere Media Group explores sale -sources

07/22/2021 | 05:06pm EDT

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, added the sources, who requested anonymity to discuss the confidential matter.

A spokesperson for Hemisphere declined to comment. The Miami-based company's shares ended trading on Thursday up 6.7% at $12.78 on the news, giving it a market capitalization of $513 million. Hemisphere also carried debt as of the end of March of about $250 million.

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 Entertainment’s 75% stake.

Pantaya 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 also owns and operates five U.S. Hispanic cable networks, two Latin American cable networks and a broadcast television network in Puerto Rico.

(Reporting by Krystal Hu in New York Editing by Steve Orlofsky and Matthew Lewis)


© Reuters 2021
Stocks mentioned in the article
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AMAZON.COM, INC. -0.08% 3444.15 Delayed Quote.5.83%
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GRUPO TELEVISA, S.A.B. -0.87% 47.67 End-of-day quote.45.60%
HEMISPHERE MEDIA GROUP, INC. -0.52% 11.37 Delayed Quote.9.75%
NETFLIX, INC. 0.16% 639 Delayed Quote.18.17%
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Financials (USD)
Sales 2021 196 M - -
Net income 2021 24,0 M - -
Net Debt 2021 193 M - -
P/E ratio 2021 19,0x
Yield 2021 -
Capitalization 457 M 457 M -
EV / Sales 2021 3,32x
Capi. / Sales 2022 2,02x
Nbr of Employees 314
Free-Float 39,0%
Chart HEMISPHERE MEDIA GROUP, INC.
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Hemisphere Media Group, Inc. Technical Analysis Chart | HMTV | US42365Q1031 | MarketScreener
Technical analysis trends HEMISPHERE MEDIA GROUP, INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 2
Last Close Price 11,37 $
Average target price 15,50 $
Spread / Average Target 36,3%
EPS Revisions
Managers and Directors
Alan J. Sokol President, Chief Executive Officer & Director
Craig D. Fischer Chief Financial Officer
Peter M. Kern Chairman
Eric C. Neuman Independent Director
John Engelman Independent Director