Hemisphere Media Group Announces NASDAQ Global Market Listing
MIAMI -- April 22, 2013
Hemisphere Media Group, Inc. (OTCBB: HMTVA, HMTVW) ("Hemisphere"), the only
publicly traded pure-play U.S. Spanish-language media company targeting the
high growth Hispanic TV/cable networks business, announced today that its
shares of Class A common stock have been approved for listing on the NASDAQ
Hemisphere’s Class A common stock will commence trading on the NASDAQ Global
Market (“NASDAQ”) on Tuesday, April 23, 2013 under the ticker symbol "HMTV."
Prior to the listing change to NASDAQ, Hemisphere’s Class A common stock will
continue to trade on the OTC Bulletin Board under the current ticker symbol
"HMTVA." Hemisphere’s warrants will continue to trade on the OTC Bulletin
Board under the current ticker symbol “HMTVW.”
Alan Sokol, CEO of Hemisphere, said, "The transition to the NASDAQ Global
Market is a significant milestone for Hemisphere and important step forward in
the growth and development of our company. We believe this move will increase
the visibility and liquidity of our shares in the market, and we are honored
to join the long list of prestigious companies already traded on NASDAQ."
Hemisphere was formed through the completion of a series of mergers in which
it became the new parent company of:
*Cinelatino, the #1 U.S. Spanish-language cable movie network, with
approximately 12 million subscribers across the U.S., Latin America and
*WAPA America, the leading U.S. Spanish-language cable network targeting
Puerto Ricans and other Caribbean Hispanics living in the U.S, with over 5
million subscribers; and
*WAPA TV, the #1 broadcast television network and content producer in
Puerto Rico, with state-of-the-art facilities that produce over 60 hours
per week of top-rated news and entertainment programming.
About Hemisphere Media Group, Inc.
Hemisphere Media Group (OTCBB: HMTVA, HMTVW) is the only publicly-traded
pure-play U.S. Spanish-language TV/cable network business serving the
high-growth U.S. Hispanic population. Headquartered in Miami, Florida,
Hemisphere owns and operates Cinelatino, WAPA Television and WAPA America.
Cinelatino is the leading Spanish-language movie channel with more than 12
million subscribers in the U.S., Latin America and Canada, featuring the
largest selection of contemporary Spanish-language blockbusters and
critically-acclaimed titles from Mexico, Latin America, Spain and the
Caribbean. WAPA Television is Puerto Rico’s leading broadcast station with the
highest primetime and full day ratings in Puerto Rico. Founded in 1954, WAPA
Television produces more than 60 hours per week of top-rated news and
entertainment programming. WAPA America is the leading cable network targeting
Puerto Ricans and other Caribbean Hispanics living in the U.S., featuring the
highly-rated news and entertainment programming produced by WAPA-TV. WAPA
America has more than five million U.S. subscribers.
About InterMedia Partners
Founded in 1988 by Leo Hindery Jr., InterMedia Partners, L.P., the controlling
shareholder of Hemisphere, is premised on the philosophy that by bringing
extensive operating experience to media private equity, the fund could drive
superior returns. Over the course of its seven funds, InterMedia has invested
in cable television, broadcast television, print, programming, and broadband
opportunities. InterMedia's Senior Partners have over 50 years of operating
experience and, by making control investments, they are able to bring that
knowledge base to bear on the acquired assets.
Caution Concerning Forward-Looking Statements
This press release may contain certain statements about Hemisphere that are
"forward-looking statements" within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. These statements are based on the current
expectations of the management of Hemisphere and are subject to uncertainty
and changes in circumstance, which may cause actual results to differ
materially from those expressed or implied in such forward-looking
statements.. Without limitation, any statements preceded or followed by or
that include the words "targets," "plans," "believes," "expects," "intends,"
"will," "likely," "may," "anticipates," "estimates," "projects," "should,"
"would," "expect," "positioned," "strategy," "future," or words, phrases or
terms of similar substance or the negative thereof, are forward-looking
statements. In addition, these statements are based on a number of assumptions
that are subject to change. Factors that could cause actual results to differ
materially from those expressed or implied by the forward-looking statements
include failure by Hemisphere to satisfy the conditions to listing on NASDAQ.
Other factors that could cause actual results to differ are discussed in this
press release and under the heading “Risk Factors” and "Forward-Looking
Statements" in the company's most recent registration statement on Form S-4
filed with the Securities and Exchange Commission. Forward-looking statements
included herein are made as of the date hereof, and Hemisphere undertakes no
obligation to update publicly such statements to reflect subsequent events or
Hemisphere Media Group, Inc.
Patrick Scanlan, 212-381-1659
Patrick Scanlan, 212-381-1659
Anya Hoerburger, 212-503-2850
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