Hemisphere Media Group, Inc. Stockholders Litigation

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.