Hemisphere Media Group has bought Lionsgate's 75 percent stake in U.S. Hispanic subscription video-on-demand service Pantaya for $124 million in cash.
Hemisphere is taking full control of Pantaya and its 900,000 subscribers after until now holding a 25 percent stake. The Spanish-language SVOD service launched in summer 2017 as a joint venture between Hemisphere and Lionsgate.
The debut came as content companies looked to capture the burgeoning U.S. Hispanic market as it grows in size and spending power.
Pantaya targets Spanish-speaking and bilingual Hispanic viewers with movies, TV series and other original content. "As a result of our focus on exclusive premium content, our knowledge of the Hispanic consumer, and the breadth of our.
Read more on hollywoodreporter.com
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