Hemisphere Media Group has acquired the remaining 75% of Hispanic streaming service Pantanya that it didn’t already own from Lionsgate for about $124 million in cash.Miami-based Hemisphere, a publicly traded pure play targeting the U.S.
Hispanic and Latin American markets, will now own 100% of Pantaya. The service, launched in 2017 as a joint venture of Hemisphere and Lionsgate, was one of the first premium streaming destinations for U.S.
Hispanics. It has 900,000 paying subscribers and Hemisphere see that growing to 2.5 to 3 million by the end of 2025.Hemisphere CEO Alan Sokol said “Pantaya’s success to date affirms the tremendous appetite of our audience for our unique content offering.
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