Hemisphere Closes $102 Mln Acquisition Of Spanish-Language Cable TV Networks

(RTTNews) - Hemisphere Media Group Inc (HMTV) Monday closed the acquisition of three Spanish-language cable television networks from Media World LLC for a total of about $102 million in cash, subject to certain post-closing adjustments.

Hemisphere Media is the only publicly traded pure-play U.S. media company targeting the high growth Hispanic TV/cable networks business. The deal helps it to provide unique programming focused on the U.S. Hispanic market.

The acquired networks are

- Pasiones, dedicated to showcasing telenovelas and series, distributed in the U.S and Latin America to over 11 million subscribers

- Centroamerica TV, a network targeting the third largest U.S. Hispanic group, featuring news, entertainment and soccer programming from Central America with over 3.3 million subscribers in the U.S.

- TV Dominicana, a network targeting Dominicans living in the U.S., featuring news, entertainment and baseball programming from the Dominican Republic, with over 2.2 million subscribers in the U.S.