Hemisphere Media Group Announces NASDAQ Global Market Listing
April 22 2013 - 7:57AM
Business Wire
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
Global Market.
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 Canada;
- 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 circumstances.