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Hemisphere Media Group, Inc.

1-877-411-4850

This official website is maintained by the Settlement Administrator under the supervision of Lead Counsel in the putative stockholder class action entitled In re Hemisphere Media Group, Inc. Stockholder Litigation, Consol C.A. No. 2023-0555-JTL pending in the Court of Chancery of the State of Delaware.

Hemisphere Media Group, Inc. Stockholders Litigation

Please be advised that your rights will be affected by the above-captioned stockholder class action pending in the Court of Chancery of the State of Delaware if you were a record holder or beneficial owner of Hemisphere Media Group Inc. common stock (NASDAQ: “HMTV”) whose shares were exchanged for or who had the right to receive in exchange $7.00 per share in cash on September 13, 2022.

The information contained on this website is only a summary of the information presented in more detail in the Notice of Pendency of Stockholder Class Action and Proposed Settlement, Settlement Hearing, and Right to Appear (the “Notice”), which you can access here. Because this website is just a summary, you should review the Notice for additional details.

Please be advised if you were a record holder or beneficial owner of Hemisphere Media Group Inc. (“Hemisphere” or the “Company”) common stock (NASDAQ: “HMTV”) whose shares were exchanged for or who had the right to receive in exchange $7.00 per share in cash on September 13, 2022.

Please also be advised that (i) Plaintiffs Robert Garfield, Carmel Spamer, and Theodor Karl Schricker, Jr. (collectively, “Plaintiffs”), individually and on behalf of the Class (defined in Paragraph 24 in the Nnotice); (ii) Searchlight Capital Partners, L.P. (“Searchlight”), Eric Zinterhofer, Adam Reiss, Alan J. Sokol, Peter M. Kern, Gato Investments, L.P. (“Gato”), and Gemini Latin Holdings, LLC (“Gemini”), (collectively, “Defendants”); and (iii) Hemisphere Media Group, Inc. (“Hemisphere”) (and together with Plaintiffs and Defendants, the “Settling Parties,” and each a “Party”) have reached a proposed settlement for $15,000,000 in cash (the “Settlement”). The proposed Settlement, if approved, will resolve all claims in the Action against Defendants, and the Action will be dismissed with prejudice.

If you are a member of the Class, you are subject to the Settlement. The Class preliminarily certified by the Court consists of:

All record holders and beneficial owners of shares of Hemisphere common stock whose shares were exchanged for or who had the right to receive in exchange $7.00 per share in cash at the closing of the take-private transaction between Hemisphere and Searchlight on September 13, 2022 (the “Closing”), including their heirs, successors in interest, successors, transferees, and assigns.

Excluded from the Class are: (i) Defendants; (ii) each of the former defendants in the actions (the “Former Defendants”); (iii) any person who was a Hemisphere officer or director at Closing; and (iv) the members of the immediate families of any of the foregoing, (v) any entity in which any of the Defendants or Former Defendants has had a controlling interest (each of (i)-(v) an “Excluded Person”) and (vi) the legal representatives, heirs, successors, or assignees of any such Excluded Person. Excluded Persons also include Grupo MVS Capital, S. de R.L. de C.V., Gemini and Searchlight II HMT, L.P., InterMedia Partners, L.P., InterMedia Partners VII, LP, Panamax Films, LLC, and any of their respective parents or subsidiaries or general partners and any trusts, estates, entities, or accounts that held Hemisphere shares for the benefit of any of the foregoing.

PLEASE NOTE: The Class is a non-“opt-out” class pursuant to Delaware Court of Chancery Rules 23(a), 23(b)(1), and 23(b)(2). Accordingly, Class Members do not have the right to exclude themselves from the Class.

PLEASE NOTE: If you are eligible to receive a payment from the Net Settlement Fund, you do not have to submit a claim form or take any other action in order to receive your payment.

Please be patient. If the Settlement is approved by the Court, it will take some time to conduct the Settlement distribution.

PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY WHICH YOU CAN ACCESS HERE. This Notice explains how members of the class will be affected by the Settlement. The following table provides a brief summary of the rights you have as a class member and the relevant deadlines, which are described in more detail later in this Notice.

CLASS MEMBERS’ LEGAL RIGHTS IN THE SETTLEMENT:
Description Due Date
RECEIVE A PAYMENT FROM THE SETTLEMENT. CLASS MEMBERS DO NOT NEED TO SUBMIT A CLAIM FORM.

If you are a member of the Class (defined in paragraph 24 of the Notice), you may be eligible to receive a pro rata distribution from the Settlement proceeds. Eligible Class Members (defined in paragraph 35 of the notice.) do not need to submit a claim form in order to receive a distribution from the Settlement, if approved by the Court. Your distribution from the Settlement will be paid to you directly. See paragraphs 31-38 of the Notice for further discussion.
OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION SO THAT IT IS RECEIVED NO LATER THAN DECEMBER 2, 2024.

If you are a member of the Class and would like to object to the proposed Settlement, the proposed Plan of Allocation, or Plaintiffs’ Counsel’s request for an award of attorneys’ fees and expenses, you may write to the Court and explain the reasons for your objection.
ATTEND A HEARING ON DECEMBER 13, 2024 AT 11:00 A.M., AND FILE A NOTICE OF INTENTION TO APPEAR SO THAT IT IS RECEIVED NO LATER THAN DECEMBER 2, 2024.

Filing a written objection and notice of intention to appear that is received by December 2, 2024, allows you to speak in Court, at the discretion of the Court, about your objection. In the Court’s discretion, the December 13, 2024 hearing may be conducted by telephone or video conference (see paragraphs 43-44 of the Notice). If you submit a written objection, you may (but you do not have to) attend the hearing and, at the discretion of the Court, speak to the Court about your objection.