Hemisphere Completes Purchase of Three Hispanic Networks

MIAMI: Hemisphere Media Group, which operates Cinelatino, among other Spanish-language networks targeting the U.S. Hispanic segment, has completed its acquisition of Pasiones, Centroamerica TV and TV Dominicana.

Hemisphere acquired the three channels from Media World, owned by Imagina US, for $101.9 million in cash. Pasiones, featuring telenovelas and series, reaches more than 11 million subscribers in the U.S. and Latin America. Centroamerica TV delivers content from Central America to more than 3.3 million subscribers in the U.S. TV Dominicana, aimed at Dominicans, has over 2.2 million subscribers in the U.S.

Alan Sokol, CEO of Hemisphere, noted: “We are thrilled to own these outstanding networks and look forward to integrating them into the Hemisphere portfolio. This transaction expands our leadership position in Hispanic media and positions the company to realize significant long-range opportunities. We are excited to continue to build on the programming, marketing and distribution efforts of these highly complementary businesses.”

Hemisphere Media Group owns and operates the movie channel Cinelatino, WAPA Television in Puerto Rico and WAPA America, which targets Puerto Ricans and other Caribbean Hispanics living in the U.S.