Hemisphere Media’s $124 Million Acquisition of Pantaya

Paul, Weiss advised Hemisphere Media Group, Inc. in the transaction.

Hemisphere Media Group, Inc. executed its acquisition of the remaining 75% stake in Pantaya for approximately $124 million in cash from Lionsgate. Prior to the transaction, Hemisphere owned 25% of Pantaya and, upon closing of the transaction, will own 100% of Pantaya.

The transaction will be funded through cash on hand, and approximately $50 million add-on to Hemisphere’s Term Loan B on the same terms as the existing term loan. Separately, Hemisphere has put in place a $30 million corporate revolving credit facility, which will be undrawn at the time of closing the acquisition.

Hemisphere is the only publicly traded pure-play U.S. media company targeting the high-growth U.S. Hispanic and Latin American markets with leading broadcast and cable television, and digital content platforms. Los Angeles-based Pantaya is the leading U.S. Hispanic subscription streaming service.

The Paul, Weiss team advising Hemisphere included corporate partners Jeffrey Marell (Picture), Brian Lavin, John Kennedy and Cullen Sinclair, and counsel Suhan Shim; intellectual property partner Charles Googe; tax partner David Mayo; real estate partner Peter Fisch; executive compensation partner Lawrence Witdorchic, and counsel Uri Horowitz and Meghan Fox; antitrust counsel Yuni Sobel and Marta Kelly; litigation counsel Steven Herzog; and environmental counsel William O’Brien.

Involved fees earner: Peter Fisch – Paul Weiss Rifkind Wharton & Garrison; Meghan Fox – Paul Weiss Rifkind Wharton & Garrison; Charles Googe – Paul Weiss Rifkind Wharton & Garrison; Steven Herzog – Paul Weiss Rifkind Wharton & Garrison; Uri Horowitz – Paul Weiss Rifkind Wharton & Garrison; Marta Kelly – Paul Weiss Rifkind Wharton & Garrison; John Kennedy – Paul Weiss Rifkind Wharton & Garrison; Brian Lavin – Paul Weiss Rifkind Wharton & Garrison; Jeffrey Marell – Paul Weiss Rifkind Wharton & Garrison; David Mayo – Paul Weiss Rifkind Wharton & Garrison; William O’Brien – Paul Weiss Rifkind Wharton & Garrison; Suhan Shim – Paul Weiss Rifkind Wharton & Garrison; Cullen Sinclair – Paul Weiss Rifkind Wharton & Garrison; Yuni Sobel – Paul Weiss Rifkind Wharton & Garrison; Lawrence Witdorchic – Paul Weiss Rifkind Wharton & Garrison;

Law Firms: Paul Weiss Rifkind Wharton & Garrison;

Clients: Hemisphere Media Group, Inc.;

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Martina Bellini

Author: Martina Bellini